MIAL raises funds from Apollo for Mumbai airport project

Mumbai International Airport Limited (MIAL) has raised funds worth Rs 57.35 billion in senior secured private placement notes from Apollo-managed credit funds for the Mumbai International Airport Project. This will be used to refinance existing shorter-maturity loans and new capital ex­pen­diture. Allen and Overy, and Cyril Amarchand Mangaldass acted as legal advisers to MIAL for the issuance, while Linklaters, and Talvar Thakore and Associates acted as legal advisers to Apollo. MIAL is a step-down subsidiary of Adani Airport Holdings Limited, a company incubated by Adani Enterprises Limited.

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