+
GMR airports to raise Rs 19.50 bn debt at 13%+ yield
AVIATION & AIRPORTS

GMR airports to raise Rs 19.50 bn debt at 13%+ yield

GMR Airports Holdings is planning to secure Rs 19.50 billion through a high-yield debt offering with a coupon rate of 13.275% and a three-year tenure.

It was disclosed by informed sources that Credit Solutions India Trust has committed Rs 5 billion as the anchor investor for this offering.

The coupon rate comprises a 5% cash coupon and an 8.275% redemption premium paid on an annual basis. An 'A-' rating has been assigned to the issue by Care Ratings, and the subscription book is set to open on November 20.

According to one of the sources, GMR is offering higher coupons because it is borrowing money at the holding company level.

It was reported last week that GMR Goa Airport had raised funds at a rate of 10%. Queries made to a GMR spokesperson did not receive an immediate response.

GMR Airports Holdings, which acts as the parent company for Delhi International Airport (DIAL) and GMR Hyderabad International Airport (GHIAL), intends to utilize the funds raised to refinance its outstanding non-convertible bonds (NCBs). Additionally, sources suggest that the surplus funds will be directed towards investments and potential stake purchases in subsidiaries.

GMR Airports Holdings is planning to secure Rs 19.50 billion through a high-yield debt offering with a coupon rate of 13.275% and a three-year tenure. It was disclosed by informed sources that Credit Solutions India Trust has committed Rs 5 billion as the anchor investor for this offering. The coupon rate comprises a 5% cash coupon and an 8.275% redemption premium paid on an annual basis. An 'A-' rating has been assigned to the issue by Care Ratings, and the subscription book is set to open on November 20. According to one of the sources, GMR is offering higher coupons because it is borrowing money at the holding company level. It was reported last week that GMR Goa Airport had raised funds at a rate of 10%. Queries made to a GMR spokesperson did not receive an immediate response. GMR Airports Holdings, which acts as the parent company for Delhi International Airport (DIAL) and GMR Hyderabad International Airport (GHIAL), intends to utilize the funds raised to refinance its outstanding non-convertible bonds (NCBs). Additionally, sources suggest that the surplus funds will be directed towards investments and potential stake purchases in subsidiaries.

Next Story
Technology

Six ways a smarter workflow leads to faster, more accurate bids

In today’s fast-paced civil construction environment, estimators need more than just solid numbers. They need smart, streamlined processes. This article explores six key ways connected workflows can transform the estimated approach, help in minimising risk, move faster, and improve accuracy. By integrating tools, data, and teams, one can produce stronger bids with less rework, fewer surprises, and more confidence. As an estimator, the job goes beyond producing numbers. They are responsible for delivering bids that are fast, accurate, and built to win. In today’s civil construction ind..

Next Story
Real Estate

Experion Launches Women-Only Co-Living Project in Greater Noida

Experion, part of Singapore-based AT Capital Group, has launched its first co-living space under its managed rental housing brand, VLIV, in Greater Noida. The all-women residence features 730 twin-sharing beds with a strong focus on safety, comfort, and well-being. VLIV has committed a $300 million investment to create a structured, service-led rental housing ecosystem in India. The brand aims to scale up to 20,000 beds in the next few years, with a long-term target of 100,000 beds nationwide. “India’s rental housing is fragmented. VLIV is our way of building long-term, dependabl..

Next Story
Infrastructure Urban

Officine Maccaferri Acquires CPT to Bolster Tunnelling Tech

Ambienta’s platform company, Officine Maccaferri S.p.A., has acquired CPT Group, a leading Italian developer of robotic prefabrication systems and digital control technologies for mechanised tunnelling. The move positions Maccaferri as a global player in integrated tunnelling solutions, blending traditional and advanced mechanised systems. Based in Nova Milanese, CPT serves major global contractors across Europe, Southeast Asia, and Australia. The company offers robotic prefabrication (Robofactory), productivity-monitoring software for Tunnel Boring Machines (TBMs), and eco-designed spa..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?