Adani Group to raise over $1.5 bn to refinance Mumbai airport debt

MIAL has a debt of about Rs 9,000 crore, including project term loan of about Rs 5,470 crore

Mumbai airport is looking to raise bonds worth $1.5 billion to refinance the debt of Mumbai’s international airport amid a slump in air travel owing to the ongoing pandemic.

The plan to raise capital comes months after the Ada­ni group announced acqu­isition of the GVK-group-owned MIAL. In February, the Adani group acquired 23.5 per cent stakes in the Mu­mbai airport from two South African investors, while the acquisition of GVK group’s 50.5 per cent stake in Mumbai airport is still in process.

Barclays Plc and JPMor­gan Chase & Co. are among banks in talks to provide funds to Adani Airport Hold­ings. Deutsche