AAHL bags $250 mn from SCB, Barclays Bank for airport development

Adani Airport Holdings Limited (AAHL) has announced a successful closure of a $250 million funding round and secured three-year external commercial borrowing (ECB) facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The company has an option to raise another $200 million. The funding enables a scalable capital solution with the flexibility to tap global capital markets with AAHL's vision of providing a transformational airport infrastructure platform. The spokesperson of AAHL said that the company aims to deliver high-quality infrastructure access to the consumers through physical and digital channels. He added that the first phase is now set in motion with the funding of AAHL, Mumbai International Airport Limited (MIAL) and Navi Mumbai International Airport Limited (NMIAL). The company will now focus on expanding the airport business into one of the largest airport platforms globally. MIAL placed a $750 million private placement to Apollo and a $1.74 billion financial closure for NMIAL from the domestic banking system. AAHL has tapped three different pools of the capital of $2.74 billion. AAHL is now ready for the next phase of its capital management plan, including tapping the public capital markets and construction facilities to enable access to long term capital sources for infrastructure development. AAHL controls 50% of the top 10 domestic routes, 23% of the Indian air traffic, and 30% of India's air cargo. AAHL airports carry around 200 million consumers, including passengers and non-passengers. AAHL is committed to UN Sustainability Development Goals (SDGs), focusing on affordable and clean energy, sustainable cities and communities, and climate action through several initiatives, including solar energy installation projects, electric vehicle usage, green buildings, and conversion to LED lamps, etc. Image Source Also read: Adani Group concludes financing for Navi Mumbai airport project