Debt

Debt financing

Bangalore International Airport raises Rs.9,000-Cr through NCDs

Business Line  

Bangalore International Airport Ltd (BIAL), which operates Kempegowda International Airport Bengaluru (BLR Airport), has raised INR 9,000 crore through the issue of NCDs (non-convertible dentures) with a 15-year tenure. The transaction is taking place in two tranches-INR 4,362 crore was completed in July, and the remaining INR 4,638 crore will be completed in October.The fresh funds will be used by the company for expansion and to enhance the capital structure. The round also saw participation of banks, insurance companies, Infrastructure Debt Funds (IDFs) and Public Financial Institutions (PFIs).

Between Mar-16 and Dec-24, BIAL had attracted about USD 1,332.5-M from Fairfax Holdings.For FY24, BIAL had reported about INR 2,749.32 Cr in Operating Income and about INR 55.67 Cr in Net Loss.