GMR Hyderabad International Airport Ltd. on Thursday said it has priced a $300 million bond in the international market. In a statement, the company, a subsidiary of GMR Airports Ltd., and a step- down subsidiary of GMR Infrastructure Ltd., said it had entered into a purchase agreement to issue and allot $300 million senior secured notes of five-year tenure at a coupon rate of 5.375%. The proceeds would be used to fund the expansion of the Rajiv Gandhi International Airport here, a project that increase the capacity of the facility from 12 million passengers per annum to 34 million.
Corporate chairman of GMR group Grandhi Kiran Kumar said the offering through GHIAL “reinforces our ability to raise funds from the international bond markets and reflects our continued effort to raise capital for growth.”
