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Mumbai Adani Airport Holdings is raising ₹1,950 crore through non-convertible debentures (NCDs) primarily to provide inter-company loans to various airports, including Ahmedabad, Lucknow, Mangalore, Jaipur, Guwahati, and Thiruvananthapuram.
The NCDs, with coupon rate of 9.35% per annum, will primarily cover payments to the Airport Authority of India related to prior-period regulatory assets approved by the Airport Economic Regulatory Authority of India (AERA).
The NCDs are rated A+/Stable from both India Ratings and CRISIL Ratings. Axis Bank and Trust Investment Advisors Private are the arrangers for the issue which opens on September 30, 2024, with a tenor of 3 years, 11 months, and 7 days.
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https://economictimes.indiatimes.com/markets/stocks/news/adani-airport-to-raise-rs-1950-crore-via-ncds/articleshow/113831461.cms
