Mumbai International Airport raises $750 million debt from Apollo Global

The Adani Group-owned Mumbai International Airport (MIAL) has raised $750 million (around Rs 5,715 crore) debt from asset manager Apollo Global to refinance existing loans and fund capital expenditure.

The capital raise comes in the backdrop of recovery in domestic air traffic and resum­ption of scheduled internatio­nal services from March-end.

MIAL runs the country’s second busiest airport and the majority of the proceeds from the 7.25-year $750 million debt will be used to finance shorter maturity loans and new capital expenditure. This will include upgrade to amenities and repair and maintenance of airport facilities, among others, in order to provide better customer