GMR Airports Limited has approved the issuance of 1,50,000 Non-Convertible Bonds (NCBs), aggregating up to ₹1,500 crores. These 5% coupon, INR-denominated bonds will have a tenure of up to 36 months and are intended for refinancing existing NCBs. The bonds will be listed on the WDM segment of BSE Limited, with coupon payments made annually. The company confirms no prior delays or defaults in interest or principal payments.
GMR Airports Approves New Debt Issuance
GMR Airports Limited announced today that its Management Committee has approved the issuance of new Non-Convertible Bonds (NCBs). The company plans to issue 1,50,000 NCBs, each with a face value of INR 1 Lakh, for a total aggregate amount of up to INR 1,500 crores. These bonds will carry a 5% coupon rate and are denominated in Indian Rupees.
Purpose and Terms of Issuance
The primary purpose of this issuance is to refinance the company’s existing NCBs, which also aggregate up to INR 1,500 crores. The newly approved NCBs will have a tenure of up to 36 months. They are described as listed, unsecured, rated, and redeemable instruments. The coupon payments will be made annually until the date of redemption. The NCBs do not carry any special rights or privileges and will be redeemed at maturity with a premium, as per their terms.
Listing and Financial Standing
These new NCBs will be listed on the WDM (Wholesale Debt Market) segment of BSE Limited. GMR Airports Limited also stated that there have been no delays or defaults in the payment of interest or principal for its previously issued NCBs. The company has not received any adverse comments regarding payment obligations.
Source: BSE
