Adani Airports Secures $1 Billion Liftoff for Expansion Plans

For its Mumbai International Airport Ltd. (MIAL), Adani Airports Holdings Limited (AAHL) was able to obtain $1 billion in funding through a project finance framework.
AAHL is the biggest private airport operator in India and a fully owned subsidiary of Adani Enterprises Ltd. Adani Airport Holdings is the parent company of MIAL.
According to the statement, a group of long-term backers and affiliates of Apollo-managed funds contributed $750 million to Mumbai International Airport Ltd. Adani claims that the $750 million notes that mature in July 2029 will be issued as part of the deal and used for refinancing.
A provision to raise an extra $250 million is also included in the financing structure, making a total of $1 billion in funding possible. According to reports, this is the first private bond offering in the airport infrastructure sector in India to receive an investment-grade (IG) rating.
Apollo-Managed Funds Lead the Round
The deal, which was spearheaded by Apollo-managed funds and involved a syndicate of top institutional investors and insurance firms, including Standard Chartered and BlackRock-managed funds, demonstrated international trust in India's infrastructure potential and Adani Airports' operational framework.
The notes are anticipated to be rated BBB-/stable, supported by MIAL's steady cash flows and asset base, as well as its operational efficiency. By continuing to invest in modernisation, capacity growth, digitalisation, and technology integration, AAHL is steadfast in its long-term goal of revolutionising the airport's infrastructure.
Additionally, by accelerating its sustainability programme, the deal will help MIAL reach its 2029 net-zero emissions target. This issue comes after AAHL received $750 million in funding from a group of international banks.
This most recent deal is further evidence of Adani's capacity to draw top-tier investors to India's next-generation infrastructure platform and its access to diverse international finance markets.
Investors Showing Great Confidence in AAHL-Bansal
According to Arun Bansal, CEO of Adani Airports Holdings Ltd., this successful issue demonstrates the resilience of Mumbai International Airport's foundation, the robustness of Adani Airports' operating platform, and AAHL's dedication to sustainable infrastructure development.
He went on to say that the company is pleased to expand its access to international capital pools with the help of Apollo-managed funds and top institutional investors. AAHL's ability to get one of the biggest private investment-grade project finance issuances, he added, shows its dedication to long-term value development, capital efficiency, and financial discipline.
The investors were advised by Milbank LLP and Khaitan & Co., while MIAL was represented by A&O, Shearman, and Cyril Amarchand Mangaldas. In addition to managing the Navi Mumbai International Airport, a strategically placed project on the outskirts of Mumbai that is soon to open, Adani Airport Holdings already runs eight airports around India.
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