Mumbai Airport secures investment: Mumbai International Airport Ltd — a subsidiary of India’s largest port operator Adani Airports Holdings — has secured a USD 750 mn investment financing from an Apollo asset management-led consortium, according to a statement. The funds — which come from Apollo-managed funds and other long-term investors — will be used to restructure the airport’s debt and support its operations.

The details: The financing comes in the form of four-year senior secured notes, with an option to add another USD 250 mn in the future.

SOUNDS FAMILIAR? Adani’s airport unit has been on a quest for financing to support its debt restructuring and expansion plans, with reports from April mentioning the company was in talks with First Abu Dhabi Bank — and international lenders including Barclays and Standard Chartered — to secure a USD 750 mn loan.

ICYMI- Adani Group is reportedly lining up the airport unit for an IPO before 20 March as part of the conglomerate’s plans to mobilize financing for its planned USD 100 bn investment push across energy, logistics, and infrastructure within the next five to six years.

Tags: