BIAL Targets October Closure for $535 Million Bond Issue

30 Jul 2025 CW Team

The upcoming bond issue follows a successful Rs 43.62 billion raise earlier this month, in which BIAL sold 15-year bonds at a monthly coupon rate of 8.15%. The second tranche is expected to be issued at a similar rate, sources said, requesting anonymity as the discussions remain confidential.

The bonds will carry a AAA rating from Crisil Ratings, India Ratings, and ICRA, reflecting strong investor confidence. Unlike the first tranche, which was auctioned on an electronic bond platform, the second issue will be privately placed, sources added.

SBI Capital Markets, which arranged the earlier transaction, will also manage the second tranche.

“The deal was closed with wide participation from banks, insurance companies, and infrastructure-focused funds,” one source noted. Proceeds will be utilised for refinancing existing debt and capital expenditure.

According to an ICRA report, BIAL plans to invest Rs 155 billion in capital expansion between FY26 and FY30. This is expected to increase its annual passenger handling capacity from 51.5 million to 80–85 million, aligning with growing demand at Kempegowda International Airport, Bengaluru.

BIAL did not respond to a request for comment from Reuters.

News source: Reuters

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