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Mumbai International Airport raises USD 750 mn from Apollo

4 May 2022 , 09:32 AM

Adani Enterprises announced that its step down subsidiary, Mumbai International Airport (MIAL), which owns and operates the Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai, the second largest airport in India has successfully raised USD 750 million senior secured private placement notes from Apollo-managed credit funds.

Apollos Credit business was able to provide a scaled, long-term capital solution for MIAL, with the majority of proceeds from the 7.25-years, $750 million notes to be used to refinance existing shorter maturity loans and new capital expenditure. MIAL is an iconic asset within AAHLs expanding airport infrastructure Portfolio and the marquee private placement is among the largest-ever completed in India.

The proceeds from the issuance of the Notes will be utilised for refinancing of existing debt and to fund capital expenditure requirements.

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