BIAL achieves financial closure for Rs 13,352 cr second phase expansion

The operator of Bengaluru airport raised Rs 10,206 crore in debt from SBI, Axis Bank and others

The Bangalore International Airport Limited (BIAL) has achieved financial closure for its Rs 13,352 crore second phase expansion plan at Kempegowda International Airport in Bengaluru. As part of this financial closure, BIAL has raised Rs 10,206 crore in debt from a syndicate of banks including the State Bank of India (SBI) and Axis Bank, the company said.

The project, which is being funded on a debt to equity ratio of 80:20, has received loans of Rs 5,106 crore from Axis Bank and Rs 5,100 crore from the SBI. The fund will be utilised to construct the second terminal at the