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    Adani Airports borrows $250 million from foreign banks for new projects

    Adani Airports borrows $250 million from foreign banks for new projects

    Adani Airports borrows $250 million from foreign banks for new projects
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    By Moneycontrol News  IST (Updated)

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    With an option to raise additional $200 million, AAHL has raised $250 million through a senior secured three-year external commercial borrowing facility from a consortium of Standard Chartered Bank and Barclays Bank

    Adani Airport Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises, on May 9 said it has raised $250 million through a senior secured three-year external commercial borrowing facility from a consortium of Standard Chartered Bank and Barclays Bank. The facility has an option to raise additional $200 million.
    The firm said: "This issuance by AAHL marks the first milestone in its capital management plan. Earlier this week, Mumbai International Airport Ltd (MIAL) placed $750 million private placement to Apollo, and $1.74 billion financial closure for Navi Mumbai International Airport Ltd (NMIAL) from the domestic banking system. With this, AAHL has tapped three different pools of capital totalling $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 of facilities."
    AAHL is an integrated network consisting of eight airports located around city centres controlling 50 percent of top 10 domestic routes, 23 percent of the total Indian air traffic, and 30 percent of India’s air cargo. AAHL airports handle around 200 million consumers, including passengers and non-passengers.
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