Adani's Mumbai airport raises $750-M debt from Apollo

Adani Group controlled Mumbai Airport (MIAL) has raised USD 750 million debt from Apollo Global managed credit funds to refinance short term debt and for capital expansion. The money is raised in the form of senior secured private placement notes for 7.25 years. Allen and Overy and Cyril Amarchand Mangaldass acted as legal advisors to MIAL for the issuance, while Linklaters and Talvar Thakore and Associates acted as legal advisors to Apollo. Mumbai forms a part of an airport network of eight airport assets under Adani Airport Holdings Limited (AAHL). MIAL also owns 74% stake in Navi Mumbai International Airport Limited (NMIAL), the greenfield airport being developed in Navi Mumbai.