Hyderabad, April 4 (IANS) GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of GMR Airports Ltd and a step down subsidiary of GMR Infrastructure Ltd (GMR Group), on Thursday announced it has successfully priced an offering of $300 million bond in the international bond market.
GHIAL has entered into a Purchase Agreement to issue and allot $300 million 5.375 per cent senior secured notes of five-year tenure, the company said in a statement.
The proceeds from the notes will be used towards the capital expenditure for expansion of the Rajiv Gandhi International Airport at Hyderabad, increasing its capacity to 34 million passengers per annum.
"The offering through GHIAL reinforces our ability to raise funds from the international bond markets and reflects our continued effort to create value for our investors and raise capital for growth. The successful pricing of the offering underscores investors' confidence in GMR Group and credit strength of GHIAL," said Grandhi Kiran Kumar, Corporate Chairman, GMR Group.
The airport was commissioned in 2008 with capacity of 12 million passengers and 150,000 tonne of cargo handling capacity per annum.
(This story has not been edited by Social News XYZ staff and is auto-generated from a syndicated feed.)
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz
This website uses cookies.
