GMR Hyderabad Airport to raise Rs 12.50 bn via NCDs
AVIATION & AIRPORTS

GMR Hyderabad Airport to raise Rs 12.50 bn via NCDs

GMR Hyderabad International Airport (GHIAL), which runs the aerodrome here, plans to raise Rs 12.50 billion through non-convertible debentures to be used for prepaying the dollar bonds maturing in April 2024 or February 2026, rating agency India Ratings & Research has said.

GHIAL (excluding subsidiaries) had a debt of Rs 70.50 billion as on September 30, 2022 which consisted of bonds of $950 million. The dollar bonds have bullet maturities in April 2024, February 2026 and October 2027, the agency said.

The proposed Rs 125 billion NCDs will be entirely used for prepaying the bonds maturing in April 2024 or February 2026. Depending on the cash accruals, refinancing of the debt is likely to be required in April 2024 while assigning an IND AA/Stable rating to the bonds. It also assigned IND AA/Stable rating to GHIAL's proposed Rs 250-crore bank loan.

Also read
MMRDA alters Metro Line-5 design after local protests
CAG slams Odisha for solid waste management failures

GMR Hyderabad International Airport (GHIAL), which runs the aerodrome here, plans to raise Rs 12.50 billion through non-convertible debentures to be used for prepaying the dollar bonds maturing in April 2024 or February 2026, rating agency India Ratings & Research has said. GHIAL (excluding subsidiaries) had a debt of Rs 70.50 billion as on September 30, 2022 which consisted of bonds of $950 million. The dollar bonds have bullet maturities in April 2024, February 2026 and October 2027, the agency said. The proposed Rs 125 billion NCDs will be entirely used for prepaying the bonds maturing in April 2024 or February 2026. Depending on the cash accruals, refinancing of the debt is likely to be required in April 2024 while assigning an IND AA/Stable rating to the bonds. It also assigned IND AA/Stable rating to GHIAL's proposed Rs 250-crore bank loan. Also read MMRDA alters Metro Line-5 design after local protests CAG slams Odisha for solid waste management failures

Next Story
Infrastructure Urban

With a strong international presence, we are poised for further expansion

EPC company Varindera Constructions (VCL) has completed 31 construction projects in the past 10 years with 20 ongoing projects in India and overseas as in March 2024. Varinder Kumar Garg, Chairman, shares factors behind the company’s stellar performance in its residential, commercial, metro, railway and institution projects and the material magnitude of the Hasimara Air Force Station project, which plays a key role in deployment and operations of Rafale jets in India, as well as his perspective on the latest technologies, sustainability, skill shortage and the company’s internati..

Next Story
Infrastructure Urban

Campal Stadium Project Delayed

The football stadium and parade ground project in Campal, Panaji, which was initiated under the smart city plan, has yet to be completed, even though it is over a year past its original deadline. The project started on March 21, 2022, and according to the initial work order, it was supposed to be finished by September 20, 2023. Imagine Panaji Smart City Development Ltd (IPSCDL) has reported that 98% of the work is complete, with the final 2% expected to be finished by March 2025. "A small area where the concrete batching plant is situated needs completion," they said. The project's total est..

Next Story
Infrastructure Urban

Cleanliness Control Centre to Monitor Work, Complaints 24X7

Jaipur's cleanliness management system is set to be more efficient with the Integrated Command and Control Centre now operating 24/7. On Friday, Arun Kumar Hasija, CEO of Jaipur Smart City Limited, issued orders to implement this change. Hasija explained that the centre will supervise door-to-door refuse collection, sanitation operations, and mechanized cleaning activities. Special attention is being given to night-time cleaning across the city, with advanced machinery being used to sanitize road dividers in areas like the Walled City. The centre will now operate round-the-clock to improve c..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000