BIAL raises Rs 102 billion via syndicated loans

Bengaluru International Airport Limited has raised a syndicated loan amounting to Rs 102 billion from the State Bank of India (SBI) and Axis Bank for taking up expansion works at the airport. The airport authority, as part of Phase II of the expansion works, is developing new infrastructure that includes a new terminal, a second runway, a new multimodal transport hub and more roads and ancillary utilities. The entire works will be taken up at a cost of Rs 133 billion, of which Rs 102 billion will be financed through the loan raised. The loan has a maturity period of 15 years carrying an interest in the range of 8.75-9 per cent.