GMR Goa to raise Rs 24.8 billion through NCDs

GMR Goa International Airport is expected to raise Rs 24.8 billion through the issue of non-convertible debentures (NCDs) for repaying existing debts and fund capex.
The securities will be raised at 10.25 per cent and have a tenor of five years. According to sources, the proceeds will be used for the repayment of the existing senior debt of Rs 15.2 billion, the external subordinated debt of Rs 2.27 billion, and the group-level debt of Rs 2.69 billion.