Monday, Jul 04, 2022
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Standard Chartered Bank, Barclays Fund Adani Airport Holdings To Raise $250 Million Through Three-Year ECB Facility

The freshly raised capital will be used for capital expenditure and the development of six airports, the company said in a release.

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Adani Group.

Adani Airport Holdings Ltd (AAHL) on Monday said it has raised $250 million through a 3-year ECB facility from a consortium of Standard Chartered Bank (SCB) and Barclays Bank PLC.

The facility has an option to raise an additional $200 million.

The freshly raised capital will be used for capital expenditure and the development of six airports, the company said in a release.

This transaction marks the completion of the first step of the capital management plan of AAHL, which includes tapping the public capital markets to enable access to long-term capital sources for infrastructure development, it said.

Incubated by Adani Enterprises Ltd (AEL), AAHL develops and manages key airports across India. It is an integrated airport network consisting of eight airports and controls around 50 per cent of the top 10 domestic routes.

Besides, it controls around 23 per cent of the country's total air traffic as well as around 30 per cent of the air cargo traffic.

AAHL had recently concluded Mumbai International Airport Limited's (MIAL) $750-million private placement to Apollo and $1.74-billion financial closure of Navi Mumbai International Airport Limited (NMIAL) cumulating to $2.74-billion, it added.

"We are focussed on delivering high-quality infrastructure access to our consumers both through physical and digital channels," an AAHL spokesperson said.

"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 airport 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," the spokesperson said.

The company also said that the financing structure enables a scalable capital solution with the flexibility to tap global capital markets in line with AAHL's vision of providing a transformational airport infrastructure platform. 

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