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Image Source : TWITTER Adani Airports raises $250 million for airports development HighlightsAAHL is a wholly owned subsidiary of Adani Enterprises Ltd AAHL handle around 200 million consumers, including passengers and non-passengers It is largest airport infrastructure company, accounting for 30% of India’s air cargo traffic Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, today announced successful closure of funding of USD 250 Mn senior secured 3-year ECB facility from consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC. The facility has an option to raise additional USD 200 Mn. The financing structure enables a scalable capital solution with flexibility to tap global capital markets in line with AAHL’s vision of providing a transformational airport infrastructure platform. AAHL is leading the Adani portfolio’s foray into B2C infrastructure assets. AAHL business is centred around convenience to consumer both via physical and digital channels. Also Read | Adani Ports acquires India’s largest marine services company Ocean Sparkle “We are focussed on delivering high quality infrastructure access to our consumers both through physical and digital channels,” said Spokesperson – AAHL “The first phase of our capital management plan is now set in motion with the funding of AAHL, MIAL and NMIAL, and we will now focus on scaling up the airports business into one of the largest airport platforms globally. We are grateful to our stakeholders and consumers for their continued support and their confidence in us.” This issuance by AAHL, marks the first milestone in its capital management plan. Earlier this week, MIAL placed USD 750 million private placement to Apollo, and USD 1.74 Bn financial closure for NMIAL from the domestic banking system. With this, AAHL has tapped three different pools of capital cumulating to USD 2.74 billion. AAHL is now geared for the next phase of its capital management plan which includes tapping the public capital markets and further construction facilities to enable access to long term capital sources for infrastructure development. AAHL is an integrated airport network consisting of eight airports located around city centres controlling 50% of top 10 domestic routes, 23% of the total Indian air traffic, and 30% of India’s air cargo. AAHL airports handle around 200 million consumers, including passengers and non-passengers. Also Read | Adani Power net profit jumps multi-fold to Rs 4,645 crore in March quarter Latest Business News
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Adani Airports raises $250 million for airports development
