Debt financing
Delhi International Airport plans Rs.3,550-Cr bond sale for debt refinancing
Delhi International Airport (DIAL) is planning to raise INR 3,550-Cr through a 15-year bond issue. The transaction aims to refinance the company’s existing dollar-denominated notes of USD 522.6-M that are due this year, as well as cover associated transaction and hedging costs.The company, which operates the Delhi Airport, previously raised USD 522.6-M through 10-year international bonds in October 2016. The proposed bond issue is expected to be priced at approximately 9.50%. The structure of the new bonds provides the firm with flexibility to refinance or redeem the debt after five years.DIAL is targeting a mid-October pay-in for the issuance and intends to finalize the list of investors this month. The company plans to repay the principal in stages, beginning from the sixth year through the 15th year.
For FY25, Delhi International Airport had reported about INR 5,433 Cr in Operating Income and about INR 976 Cr in Net Loss.
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