Adani Group secures $1-B financing for Mumbai Airport development

Adani Group has secured USD 1 Billion in financing for Mumbai airport led by Apollo-managed funds, with participation from a syndicate of leading institutional investors and insurance companies, which included BlackRock-managed funds and Standard Chartered, among others.The transaction involves the issuance of USD 750 million notes maturing July 2029, which will be used for refinancing. The financing structure also includes a provision to raise an additional USD 250 million, resulting in a total financing of USD 1 Billion.The funding will provide enhanced financial flexibility for the capital expenditure program of Mumbai International Airport Limited (MIAL) for development, modernisation, and capacity enhancement.