Adani Airports Holdings Limited (AAHL) has secured USD 1 billion financing for Mumbai International Airport Ltd (MIAL) through a project finance structure. This financing framework will support MIAL's strategic vision, including modernization, capacity expansion, and sustainability initiatives. The transaction involves the issuance of USD 750 million notes maturing in July 2029, which will be used for refinancing, and includes a provision to raise an additional USD 250 million.

Transaction Details

The transaction was led by Apollo-managed funds, with participation from a syndicate of leading institutional investors and insurance companies, including BlackRock-managed funds and Standard Chartered. The notes are expected to be rated BBB-/stable, backed by MIAL's stable asset base and cash flows, as well as operational excellence.

Investment and Sustainability

This is India's first investment-grade private bond issuance in the airport infrastructure sector. The financing will provide enhanced financial flexibility for MIAL's capital expenditure program, supporting its development, modernization, and capacity enhancement. The transaction will also accelerate MIAL's sustainability agenda, supporting its goal to achieve net zero emissions by 2029.

Company Statement

Mr. Arun Bansal, CEO of Adani Airports Holdings Ltd, stated that the successful issuance validates the strength of the Adani Airports' operating platform and its commitment to sustainable infrastructure development. The company is proud to deepen its access to global pools of capital, demonstrating its commitment to financial discipline, capital efficiency, and long-term value creation. With this financing, Adani Airports has secured a significant investment to support its growth and development plans, marking a notable milestone in the company's history.

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