Delhi International Airport raises Rs1,000 crore debt from Barclays, Aditya Birla Finance, NIIF

29 Jun 2022 , 09:54 AM

On Tuesday, financial services majors Barclays Bank, Aditya Birla Finance and a fund owned by National Investment and Infrastructure Fund (NIIF) have provided a Rs1,000-crore debt facility to Delhi International Airport Ltd (DIAL), people connected with this transaction said to “Economic Times”.

As per the news, these associated financial companies invested in five-year bonds of the GMR Group-promoted company wherein 9.52% coupon would be paid for the first three years and 9.98% for the remaining two years, they said.

Accordingly, Barclays Bank has invested Rs500 crore while Aditya Birla Finance invested Rs150 crore, and Aseem Infrastructure Finance, an NIIF fund has invested Rs350 crore to the fund raise, they further informed. Also, Barclays confirmed the development but there is no official announcement by the firm as for now. However, GMR, Aditya Birla Finance and Aseem Infrastructure did not respond to the request for comments.

Recently ths year, DIAL had raised Rs3,257 crore in rupee bonds at 10.96% by the end of March 2021 due to a significant decline in the internal accruals caused by the COVID-related disruptions.