GMR Hyderabad International Airport to raise Rs 2,276 crore global bonds
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HYDERABAD: GMR Hyderabad International Airport has announced raising $350 million, or about Rs 2,276 crore, in the international bond market, reflecting the third consecutive US dollar bond offering by GMR Group.
GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Airports and step down subsidiary of GMR Infrastructure, in a statement on Friday said it plans to entirely refinance the outstanding rupee term loans and external commercial borrowings, apart from deploying them towards partial funding of proposed capital expenditure. GHIAL said it has priced an offering of $350 million bond in the international market and entered into a purchase agreement to issue senior secured fixed rate notes of 10-year tenure at 4.25%.
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