Gold
GMR Hyderabad Airport to raise Rs 12.50 bn via NCDs
GMR Hyderabad International Airport (GHIAL), which runs the aerodrome here, plans to raise Rs 12.50 billion through non-convertible debentures to be used for prepaying the dollar bonds maturing in April 2024 or February 2026, rating agency India Ratings & Research has said.
GHIAL (excluding subsidiaries) had a debt of Rs 70.50 billion as on September 30, 2022 which consisted of bonds of $950 million. The dollar bonds have bullet maturities in April 2024, February 2026 and October 2027, the agency said.
The proposed Rs 125 billion NCDs will be entirely used for prepaying the bonds maturing in April 2024 or February 2026. Depending on the cash accruals, refinancing of the debt is likely to be required in April 2024 while assigning an IND AA/Stable rating to the bonds. It also assigned IND AA/Stable rating to GHIAL's proposed Rs 250-crore bank loan.
Also read
MMRDA alters Metro Line-5 design after local protests
CAG slams Odisha for solid waste management failures
Related Stories
Gold Stories
Opinion Poll
Question : what is your impression of work in the construction industry?
Latest updates
