GMR Group Raises US$ 300 Million For Hyderabad Airport Expansion

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Hyderabad’s Rajiv Gandhi International Airport (RGIA) will soon be expanded to handle 3.4 crore passengers annually as the Airport and a step-down subsidiary of GMR Infrastructure (GMR Group) has announced that it has successfully priced an offering of US$ 300 million bonds in the international bond market.

The funds raised from this bond issue will be used for RGIA expansion.

  • A subsidiary of GMR Airports Limited, GHIAL has entered into a purchase agreement to issue and allot $300 million 4.75% senior secured notes of five-year tenure.

Grandhi Kiran Kumar, corporate chairman, GMR Group said:

“We are delighted with the successful pricing of this transaction. The offering through GHIAL reinforces our ability to raise funds from the International Bond Markets and reflects our continued effort to create value for our investors and raise capital for growth.

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“The successful pricing of the offering underscores investors’ confidence in GMR Group and credit strength of GHIAL”.

As per the result of the expansion, the airport will soon be expanded to handle 3.4 crore passengers annually. The number is up 36% from its current capacity of 2.5 crores.


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