GMR Hyderabad International Airport Limited successfully prices $300 mn bond offering

GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GMR Group), announced that it had on January 26, 2021 successfully priced an offering of US$ 300 Mn bond in the international bond market. GHIAL has entered into a Purchase Agreement to issue and allot US$ 300 Mn 4.75% senior secured notes of 5 year tenure (the "Notes"). The proceeds from the Notes will be used towards the capital expenditure with respect to the master plan (expansion) of the Rajiv Gandhi International Airport at Hyderabad, increasing the capacity of the Airport to 34 Mn Passengers Per Annum.

Commenting on the occasion, Mr. Grandhi Kiran Kumar, Corporate Chairman, GMR Group said, "We are delighted on the successful pricing of this transaction. The offering through GHIAL reinforces our ability to raise funds from the International Bond Markets and reflects our continued effort to create value for our investors and raise capital for growth. The successful pricing of the offering underscores investors' confidence in GMR Group and credit strength of GHIAL".

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.25.5 as compared to the previous close of Rs. 25.95. The total number of shares traded during the day was 1331341 in over 713 trades.

The stock hit an intraday high of Rs. 26.1 and intraday low of 25.15. The net turnover during the day was Rs. 34188257.

Source : Equity Bulls

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