Mumbai International Airport raises ₹5,735.43 crore from Apollo Management
The Hindu
This private placement is among the largest-ever completed in India, Apollo Management said
Mumbai International Airport Ltd (MIAL), which owns and operates the Chhatrapati Shivaji Maharaj International Airport (CSMIA) in Mumbai, said it has raised ₹5,735.43 crore (US$ 750 million) senior secured private placement notes from Apollo Management International LLP-managed credit funds.
The US-based Apollo is a global, high-growth alternative asset manager.
Apollo’s Credit business provided the funds and majority of proceeds will be used to refinance existing shorter maturity loans and new capital expenditure, the company said in a statement.
This private placement is among the largest-ever completed in India, the company said.
MIAL is a step-down subsidiary of Adani Airport Holdings Ltd (AAHL), a company incubated by Adani Enterprises Ltd (AEL).
The capital was raised through 7.25-year US$ Notes through US Private Placement (USPP).
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