GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Airports and a step-down subsidiary of GMR Airports Infrastructure (formerly known as GMR Infrastructure (GIL)), announced that it had on 13 March 2023 successfully raised funds through the issuance of 10 year Listed, Rated, Redeemable, Secured Non-Convertible Debentures (NCDs) amounting Rs 840 crore, on private placement basis.
The NCDs will be listed on BSE. The NCDs have been priced at an interest rate of 8.71% per annum payable quarterly for an initial period of 5 years and thereafter interest rate will be reset for next 5 years. The issue has been subscribed by eligible investors (QIBs, registered under SEBI).
The proceeds from the NCDs will be utilized for partial refinancing of ~ US$ 100 Million of the existing Foreign Currency Bonds of 2024, for which tendering has been completed, along with accrued interest and other tender offer / issue expenses.
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