GMR Group attracts $750-M in structured debt from ADIA

Delhi-based GMR Enterprises (GEPL), the holding company of GMR Group has raised USD 750 million via structured debt instruments from Abu Dhabi Investment Authority (ADIA), the UAE's largest sovereign wealth fund. The investment will facilitate the repayment of all external debt at GEPL, strengthening its ability to support the continued growth of GMR Airports. It will also allow the Indian company to reduce the pledged shareholding in its airports business. (GMR Enterprises owns about 25% stake in GMR Airports.)GMR Enterprises' total debt stands at INR 44.77 billion (USD 532.5 million).