Barclays, Aditya Birla Finance, NIIF provides Rs 1k cr debt to DIAL
AVIATION & AIRPORTS

Barclays, Aditya Birla Finance, NIIF provides Rs 1k cr debt to DIAL

Barclays Bank, Aditya Birla Finance, and a fund owned by National Investment and Infrastructure Fund (NIIF) have provided a debt facility of Rs 1,000 crore to Delhi International Airport Ltd (DIAL).

The trio infused in five-year bonds of the GMR Group-promoted firm wherein a 9.52% coupon would be paid for the first three years and 9.98% for the remaining two years.

Barclays Bank infused Rs 500 crore, Aditya Birla Finance infused Rs 150 crore, and Aseem Infrastructure Finance, a NIIF fund, infused Rs 350 crore. Barclays affirmed the development.

On May 27, ICRA Ratings had given an A+ rating to the Rs 1,000-crore bonds.

DIAL must disburse a 25 basis point higher coupon if the credit rating is downgraded below the 'A' rating. However, there is no measure if the rating is slipped by one notch from 'A+' to 'A', according to the information memorandum.

DIAL had raised Rs 3,257 crore in rupee bonds at 10.96% by the March 2021 end due to a substantial decrease in the internal accruals caused by the Covid-related disturbances. Proceeds from the latest debt facility would be utilised to fund the increase in interest payments during construction work, resulting from revised capital expenditure (capex) timelines and one-time drawdown evaluated at Rs 950-Rs 1,000 crores of the bond raised in March 2021, ICRA said.

GMR Infrastructure's latest annual report for FY21 said that Phase 3A expansion comprises expansion of Terminal 1 and Terminal 3, construction of a fourth runway along with airfields enhancement, and construction of taxiways, which will boost the capacity of Indira Gandhi International (IGI) Airport to 100 million passengers yearly.

Image Source

Also read: NIIF invests $300 million in DP World

Barclays Bank, Aditya Birla Finance, and a fund owned by National Investment and Infrastructure Fund (NIIF) have provided a debt facility of Rs 1,000 crore to Delhi International Airport Ltd (DIAL). The trio infused in five-year bonds of the GMR Group-promoted firm wherein a 9.52% coupon would be paid for the first three years and 9.98% for the remaining two years. Barclays Bank infused Rs 500 crore, Aditya Birla Finance infused Rs 150 crore, and Aseem Infrastructure Finance, a NIIF fund, infused Rs 350 crore. Barclays affirmed the development. On May 27, ICRA Ratings had given an A+ rating to the Rs 1,000-crore bonds. DIAL must disburse a 25 basis point higher coupon if the credit rating is downgraded below the 'A' rating. However, there is no measure if the rating is slipped by one notch from 'A+' to 'A', according to the information memorandum. DIAL had raised Rs 3,257 crore in rupee bonds at 10.96% by the March 2021 end due to a substantial decrease in the internal accruals caused by the Covid-related disturbances. Proceeds from the latest debt facility would be utilised to fund the increase in interest payments during construction work, resulting from revised capital expenditure (capex) timelines and one-time drawdown evaluated at Rs 950-Rs 1,000 crores of the bond raised in March 2021, ICRA said. GMR Infrastructure's latest annual report for FY21 said that Phase 3A expansion comprises expansion of Terminal 1 and Terminal 3, construction of a fourth runway along with airfields enhancement, and construction of taxiways, which will boost the capacity of Indira Gandhi International (IGI) Airport to 100 million passengers yearly. Image Source Also read: NIIF invests $300 million in DP World

Related Stories

Gold Stories

Next Story
Products

Koemmerling opens Navi Mumbai experience centre

Koemmerling, a brand of the profine Group, has expanded its presence in the Mumbai metropolitan region with the opening of a new experience centre in Navi Mumbai and launched its Allure S46 minimal sliding door system for the Indian market.Located in CBD Belapur, the facility was inaugurated by Peter Mrosik, Owner and CEO, profine Group, along with Farid Khan, Chairman and Managing Director, profine India, and Kamal Bajaj, CEO, profine India.The company said the new centre will showcase its portfolio of uPVC and aluminium window and door systems to architects, developers and homeowners.The ina..

Next Story
Products

India's waterproofing market nears Rs 150 bn milestone

India's waterproofing industry is approaching a market size of Rs 150 billion and is expected to surpass the $2 billion milestone, according to speakers at the 2nd India International Waterproofers Conference & Expo 2026 organised by the Waterproofers Association of India (WAI) in New Delhi.The two-day event brought together more than 20 speakers, 55 international delegates and 53 exhibition booths, with discussions focusing on climate-resilient construction, advanced waterproofing technologies and international collaboration.Inaugurating the event, Durga Shanker Mishra, former Secretary, ..

Next Story
Real Estate

Dilip Buildcon Q1 FY27 Revenue at Rs 23.78 billion

Dilip Buildcon Limited reported consolidated revenue from operations of Rs 2,378 crore in Q1 FY27, along with EBITDA of Rs 429 crore and profit after tax of Rs 128 crore.Consolidated EBITDA margin stood at 18.1%, improving from 17.1% in Q4 FY26. On a standalone basis, revenue from operations was Rs 1,930 crore, EBITDA stood at Rs 199 crore and PAT was Rs 39 crore, with an EBITDA margin of 10.3%.The company’s order book stood at Rs 27,691 crore as of 30 June 2026, compared with Rs 28,830 crore as of 31 March 2026. Roads and highways accounted for 17.1% of the order book, irrigation and water ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement