MIAL restructures loans worth Rs 10,600 crore

MIAL has refinanced both its long-term as well as working capital loans

Mumbai International Airport Pvt Ltd (MIAL), in which a GVK group company holds 50.5 per cent stake, has restructured its Rs 10,600-crore loan portfolio with its consortium of bankers.  

MIAL has been able to refinance Rs 6,140 crore of long-term loans and has been provided Rs 2,155 core to refinance the securitised loan against the airport development fees paid by flyers. It has also been extended over Rs 800 crore working capital facility to retire existing working capital loans. 

The tenure of the long-term loan is 14.5 years at an interest rate of 9.3 per cent per annum, to be reset