Adani Airports Holdings Ltd has secured a landmark USD 1 billion investment for Mumbai International Airport, marking India’s first private investment-grade bond issuance in the airport sector.
Adani Airports Holdings Limited (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, has successfully secured USD 1 billion financing through a project finance structure for Mumbai International Airport Ltd (MIAL). This includes the issuance of USD 750 million in notes maturing in July 2029, intended for refinancing, with an additional provision to raise USD 250 million.
This marks India’s first investment-grade (IG) rated private bond issuance in the airport infrastructure space. Led by Apollo-managed funds, the transaction also witnessed participation from renowned global institutional investors including BlackRock-managed funds and Standard Chartered.
The financing framework enhances MIAL’s financial flexibility to execute capital expenditure for development, modernization, and capacity enhancement. It also supports sustainability goals, most notably MIAL’s commitment to achieving net zero emissions by 2029.
The bond is expected to carry a BBB-/stable rating, backed by MIAL’s strong asset base, reliable cash flows, and operational excellence. This move follows AAHL’s earlier USD 750 million financing from a consortium of global banks, underscoring Adani’s continued access to global capital markets.
Mr. Arun Bansal, CEO of Adani Airports Holdings Ltd, stated: “This successful issuance validates the strength of the Adani Airports’ operating platform, the robust fundamentals of Mumbai International Airport, and our commitment to sustainable infrastructure development. Our ability to secure one of the largest private investment-grade project finance issuances demonstrates our commitment to financial discipline, capital efficiency and long-term value creation.”
Mumbai International Airport Limited is a Public-Private Partnership (PPP) between Adani Airport Holdings Ltd (74%) and the Airports Authority of India (26%). MIAL is being reinvented as India’s largest aerotropolis, integrating passenger and cargo infrastructure with commercial and residential clusters to create a dynamic airport ecosystem supporting business, leisure, and employment.
Incorporated in 2019 as a 100% subsidiary of Adani Enterprises Ltd, AAHL is India’s largest airport infrastructure company. It operates and develops eight airports including Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, Thiruvananthapuram, Mumbai, and Navi Mumbai. The group accounts for 23% of India’s passenger footfall and 30% of air cargo traffic.
Disclaimer: The article is for informational purposes only and not investment advice.
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