Adani Airports Holdings Limited (AAHL), a wholly owned subsidiary of Adani Enterprises and India’s largest private airport operator, has successfully raised USD 1 billion through a project finance structure for its Mumbai International Airport Ltd (MIAL).
According to Adani, the deal involves the issuance of USD 750 million in notes maturing in July 2029. These notes will be used for refinancing. The financing framework also allows for an additional USD 250 million to be raised, taking the total available funding to USD 1 billion.
The structure is expected to provide greater financial flexibility for MIAL’s capital expenditure plans, including development, modernisation and capacity expansion.
The deal marks India's first investment-grade rated private bond issuance in the airport infrastructure sector.
The transaction was led by Apollo-managed funds, and also saw participation from a syndicate of major institutional investors and insurance firms. Among them were BlackRock-managed funds and Standard Chartered, highlighting global interest in India's infrastructure sector and confidence in Adani Airports' operational platform.
Backed by MIAL’s stable asset base, steady cash flows and operational capabilities, the notes are expected to be rated BBB-/stable.
AAHL has said it remains committed to its long-term vision of transforming airport infrastructure through ongoing investment in modernisation, expansion, digitisation, and technological upgrades.
The deal is also expected to fast-track MIAL’s sustainability efforts. The company is targeting net-zero emissions by 2029.
This latest fundraising comes after AAHL’s earlier USD 750 million financing from a group of global banks. The current transaction, the company said, further validates Adani’s ability to access diverse global capital markets and attract high-quality investors to India’s infrastructure sector.
“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. With participation from Apollo-managed funds and leading institutional investors, we are proud to deepen our access to global pools of capital,” said Arun Bansal, CEO of Adani Airports Holdings Ltd.
He also said, “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.”
Legal advisors on the transaction included Allen & Overy (A&O), Shearman & Sterling, and Cyril Amarchand Mangaldas representing MIAL. Milbank LLP and Khaitan & Co. acted as counsel for the investors.
According to Adani, the deal involves the issuance of USD 750 million in notes maturing in July 2029. These notes will be used for refinancing. The financing framework also allows for an additional USD 250 million to be raised, taking the total available funding to USD 1 billion.
The structure is expected to provide greater financial flexibility for MIAL’s capital expenditure plans, including development, modernisation and capacity expansion.
The deal marks India's first investment-grade rated private bond issuance in the airport infrastructure sector.
The transaction was led by Apollo-managed funds, and also saw participation from a syndicate of major institutional investors and insurance firms. Among them were BlackRock-managed funds and Standard Chartered, highlighting global interest in India's infrastructure sector and confidence in Adani Airports' operational platform.
Backed by MIAL’s stable asset base, steady cash flows and operational capabilities, the notes are expected to be rated BBB-/stable.
AAHL has said it remains committed to its long-term vision of transforming airport infrastructure through ongoing investment in modernisation, expansion, digitisation, and technological upgrades.
The deal is also expected to fast-track MIAL’s sustainability efforts. The company is targeting net-zero emissions by 2029.
This latest fundraising comes after AAHL’s earlier USD 750 million financing from a group of global banks. The current transaction, the company said, further validates Adani’s ability to access diverse global capital markets and attract high-quality investors to India’s infrastructure sector.
“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. With participation from Apollo-managed funds and leading institutional investors, we are proud to deepen our access to global pools of capital,” said Arun Bansal, CEO of Adani Airports Holdings Ltd.
He also said, “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.”
Legal advisors on the transaction included Allen & Overy (A&O), Shearman & Sterling, and Cyril Amarchand Mangaldas representing MIAL. Milbank LLP and Khaitan & Co. acted as counsel for the investors.
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