GMR Infrastructure subsidiary GHIAL executes financing agreements for additional financial assistance

GMR Infrastructure Ltd has announced that GMR Hyderabad International Airport Ltd (GHIAL), a subsidiary of the Company, developing a Greenfield Airport at Shamshabad, Hyderabad has executed the financing agreements on March 09, 2007, for an additional financial assistance of Rs 718 Crores.

This assistance will provide 100% funding for the extra facilities being put in place to cater for increased traffic of up to 12 million passengers per annum with corresponding increase in air traffic movements. The airport will now also have a common fuel farm facility and a business hotel.

The additional facility of Rs 718 Crores comprises of Rs 200 Crores of Indian Rupee debt and an External Commercial Borrowing of a US Dollar equivalent of Rs 518 Crores. The External Commercial Borrowing has a repayment moratorium of 2 years from the date of airport commercial operations and a structured payment pattern spread over 14 years thereafter.

Source : Equity Bulls

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