Adani Airports Holdings raises $750-M via ECBs from global banks

Private airport operator Adani Airports Holdings , a subsidiary of Adani Enterprises, has raised USD 750 million through external commercial borrowings (ECBs) from a group of international banks led by First Abu Dhabi Bank, Barclays, and Standard Chartered Bank.The proceeds will be used by the firm to repay loans amounting to USD 400 million. The remaining amount will be used for improving infrastructure, and to expand capacity at Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram airports.Latham and Watkins LLP and Linklaters LLP acted as English Law counsel to the transaction, Cyril Amarchand Mangaldass and TT&A acted as Indian law counsel to the transaction.