News Karnataka
Tuesday, November 29 2022
Business

DIAL raises $522.6 mn from international bond market

Photo Credit :

New Delhi: GMR group-promoted Delhi International Airport Private Limited (DIAL) on Friday said it has raised $522.6 million from the international bond market to refinance its bank loans in rupee term and external commercial borrowing.
The bonds with a 10-year maturity offered 6.125 per cent fixed rate.

“DIAL has entered into a purchase agreement to issue and allot US$522.6 million of 6.125 per cent senior secured fixed rate notes of 10 year tenure,” a company statement said.

The proceeds from the notes will be used to entirely refinance “the current outstanding rupee term bank loan” and “bank external commercial borrowing”.

Speaking on the bond issue, GMR Group’s Business Chairman-Airports Srinivas Bommidala said: “The issue has been oversubscribed by multiple times despite volatile market conditions.”

The launch of the deal at initial price of 6.50 per cent and a final pricing at 6.125 per cent reflected the strength of the book and saw investment interest coming from high quality investors in Asia, Europe and USA, said GMR Airports’ President, Finance and Business Development, Sidharath Kapur.

Share this:
MANY DROPS MAKE AN OCEAN
Support NewsKarnataka's quality independent journalism with a small contribution.

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Leave a Reply

Your email address will not be published. Required fields are marked *

Visit 7Jackpots and find the best online casinos in India! Play the most popular casino games for real money!

Find the best odds at 10Cric and ipl betting 2021! Signup today and get up to a 100% deposit bonus.

To get the latest news on WhatsApp