GMR Hyderabad International Airport (GHIAL) has successfully priced an offering of USD 300 million bond in the international bond market.
GHIAL, a subsidiary of GMR Airports and a step-down subsidiary of GMR Infrastructure (GMR Group), entered into a purchase agreement to issue and allot
USD 300 million, 4.75 percent senior secured notes of five year tenure.
The proceeds from the notes will be used towards the capital expenditure for expansion of the Rajiv Gandhi International Airport at Hyderabad, Telangana to increase its capacity to 34 million passengers per annum.
RGIA was commissioned in 31 months and inaugurated on 14 March 2008, with an initial capacity of 12 million passengers per annum (MPPA) and 1,50,000 tonne of cargo handling capacity per annum.
The project has the flexibility to increase capacity and is currently being expanded to accommodate over 34 MPPA.