Adani Enterprises subsidiary Mumbai International Airport to raise $1.25B through issuance of Notes

17 Jan 2022 , 10:00 AM

The Board of Directors of Mumbai International Airport Limited (Issuer), a step-down subsidiary company of Adani Enterprises Limited, at its meeting held on January 14, 2022, has approved the issuance of US Dollar-denominated Rule 144A/ Reg S Senior Secured Fixed Rate Bonds (“Notes”), which may be issued in one or more tranches overseas and that may be listed in any one or more stock exchanges in India or overseas.

The proceeds from the issuance of the Notes will be utilized for refinancing of existing debt and to fund capital expenditure requirements of the Issuer, in accordance with applicable laws. The total amount raised will not exceed USD 1.25 Billion.

The pricing, tenure and other terms of the Notes to be issued will be determined by the Authorized Signatories of the Issuer, on or after January 19, 2022, and such details shall be intimated in due course.

At around 10.05 am, Adani Enterprises Ltd was trading at Rs1,869.70 per piece down by Rs2.1 or 0.11% from its previous closing of Rs1,871.80 per piece on the BSE.