GMR Hyderabad International Airport to raise Rs 22.76 billion global bonds

GMR Hyderabad International Airport Limited (GHIAL) is planning to  raise $350 million (about Rs 22.76 billion) in the international bond market. This is the third consecutive US dollar bond offering by the GMR Group. GHIAL plans to entirely refinance its outstanding rupee term loans and external commercial borrowings, apart from deploying funds towards the partial funding of its proposed capital expenditure. It has priced the bond issue at $350 million in the international market and entered into a purchase agreement to issue senior secured fixed rate notes of a 10-year tenor at 4.25 per cent.