Adani Secures $1 Billion Funding Boost for Mumbai International Airport Expansion
An international bank consortium invested $750 million in Adani Airports Holdings, the airport business of Adani Enterprises.
The US private capital firm announced on Monday that a group led by affiliates of Apollo-managed funds and other long-term investors had invested $750 million in Mumbai International Airport Ltd., a division of Adani Airport Holdings.
According to a statement from Apollo, the four-year unsecured notes would be used to refinance current debt with the possibility of raising an extra $250 million.
Earlier last month, a group of foreign banks invested $750 million in Adani Airports Holdings, the airport arm of Adani Enterprises.
In June, Bloomberg reported that the unit would be spun out and listed by March 2027.
In addition to managing the Navi Mumbai International Airport, a strategically placed project on the outskirts of Mumbai that is soon to open, Adani Airport Holdings already runs eight airports around India.
A federal court in August last year had revoked the original approval to the project due to environmental concerns. [caption Read more
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