Debt

Debt financing

GMR Sports Ventures refinances Rs.1,000-Cr debt via ADIA, Barclays

Economic Times  

GMR Sports Ventures, part-owner of the Delhi Capitals cricket team, has refinanced INR 1,000 crore of debt through Abu Dhabi Investment Authority (ADIA) and Barclays at a lower double-digit interest rate.The bonds were originally raised in March 2024 at 16% from JM Financial and Elham Credit Partners, a private credit fund of Hillhouse Investment.This is part of GMR Group's broader strategy to refinance debt across its businesses, including a recent INR 6,300 crore agreement with ADIA for GMR Infra Enterprises.