GMR secures Rs 13.3 billion funding for Goa airport from Axis Bank

GMR Goa International Airport Limited, a subsidiary of GMR Airports, has signed the common loan agreement/debt facility agreement with Axis Bank Limited to fund the development of the Mopa International Airport project. The bank will provide the company with Rs 13.3 billion. With this, the company has achieved financial closure for the project. As per the agreement, Axis Bank has underwritten the entire debt of Rs 13.3 billion for the project on a long-tenor door-to-door basis for a period of 18 years on competitive terms.