Adani Airport to raise Rs 19.5 billion via NCDs

03 Oct 2024 CW Team

Adani Airport Holdings plans to raise Rs 19.5 billion through non-convertible debentures (NCDs) to provide inter-company loans to its various airport subsidiaries, including Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati, and Thiruvananthapuram.

The NCDs, carrying a coupon rate of 9.35% per annum, will primarily be used to settle payments owed to the Airports Authority of India for prior-period regulatory assets approved by the Airport Economic Regulatory Authority of India (AERA).

The debentures have been assigned an A+/Stable rating by India Ratings and CRISIL Ratings. The issue, arranged by Axis Bank and Trust Investment Advisors Private Ltd, opened on September 30, 2024, and has a tenor of 3 years, 11 months, and 7 days.

(ET)

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