{"id":20284,"date":"2022-05-04T18:39:48","date_gmt":"2022-05-04T13:09:48","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=20284"},"modified":"2022-05-04T20:45:18","modified_gmt":"2022-05-04T15:15:18","slug":"adanis-mumbai-airport-increases-by-750-mln-from-apollo","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2022\/05\/04\/adanis-mumbai-airport-increases-by-750-mln-from-apollo\/","title":{"rendered":"Adani\u2019s Mumbai Airport increases by $750 mln from Apollo"},"content":{"rendered":"\n

Mumbai International Airport Ltd (MIAL), which owns and manages the Chhatrapati Shivaji Maharaj International Airport<\/a> in Mumbai, the second biggest airport in India, on Wednesday told that it has raised $750 million of debt in a private placement from an American private capital fund manager Apollo.<\/strong><\/p>\n\n\n\n

Chhatrapati Shivaji Maharaj International Airport in Mumbai<\/strong><\/h2>\n\n\n\n

MIAL told that Apollo\u2019s Credit business was able to provide a scaled, long-term capital solution for the company and that the majority of proceeds from the 7.25-years, $750 million notes will be used to refinance existing shorter maturity loans and new capital expenditure.<\/em><\/p>\n\n\n\n

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Chhatrapati Shivaji Maharaj International Airport in Mumbai | Aviationa2z.com<\/strong><\/figcaption><\/figure>\n\n\n\n

\u201cWe are pleased to work with the Adani\u2019s to provide a comprehensive, long-term capital solution for the Mumbai International Airport, a mission-critical infrastructure asset in India,” told Brigitte Posch, Apollo Partner and Global Head of Emerging Market Debt. \u201cAmid significant market volatility, our ability to commit to the entire transaction and take a long-term view reflects some of the key strengths of Apollo\u2019s global credit platform and perpetual capital base.”<\/p>\n\n\n\n

Adani Airports Holding Ltd <\/h2>\n\n\n\n

This issuance by MIAL, which is a strategic asset in the Adani Airports Holding Ltd<\/a> (AAHL), marks the action in its capital management plan, the company told.<\/p>\n\n\n\n

AAHL will continue to diversify the sources of financing through access to different pools of capital. CSMIA has a rich history of over 90 years and has been a gateway to Mumbai for the rest of India and the world.<\/p><\/blockquote><\/figure>\n\n\n\n

Also, read <\/p>\n\n\n\n

It is one of the world\u2019s most active single-runway airports and the second largest airport in the country. It forms a part of an airport network of eight airport support under Adani Airport Holdings Limited.<\/p>\n\n\n\n

74% stake in Navi Mumbai International Airport Limited <\/h2>\n\n\n\n

MIAL also owns a 74% stake in Navi Mumbai International Airport Limited, the greenfield airport being developed in Suburban Mumbai, which when operational will be the \u201ctwin airport” servicing passengers in Mumbai Metropolitan Region. Recently, the Navi Mumbai Airport declared financial closure of the entire debt requirement of Rs12,770 crore with the State Bank of India.<\/p>\n\n\n\n

Also, read <\/p>\n\n\n\n