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

01 Jul 2022 CW Team

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

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..