GMR Airports Limited has successfully completed a private placement of 1,50,000 Non-Convertible Bonds (NCBs), denominated in INR, aggregating to ₹1,500 Crores. These bonds carry a face value of INR 1 Lakh each and a fixed interest rate of 9.56%. The primary purpose of this issuance is the refinancing of existing NCBs, with a tenure of up to 36 months.
GMR Airports Secures ₹1,500 Crore Funding
GMR Airports Limited announced today the successful allotment of 1,50,000 INR denominated, Listed, Unsecured, Rated, Redeemable Non-Convertible Bonds (NCBs). The total value of this issuance amounts to ₹1,500 Crores, with each bond having a face value of INR 1 Lakh.
Key Bond Details
The newly issued NCBs carry an interest rate of 9.56% (which includes cash coupon and accumulated interest). This issuance is specifically aimed at the refinancing of the company’s existing NCBs. The bonds have a tenure of up to 36 months from the date of allotment and were placed on a private placement basis.
This capital raise was approved by the Management Committee of the Board of Directors of the Company following the receipt of the entire subscription amount, along with a premium.
Source: BSE
