Delhi airport operator raises ₹35,000 cr to refinance dollar bonds
pre-market1 source ↓machine-written, see hownot a recommendation
- approximately
- ₹35,000 cr
- through 15-year rupee-denominated
- $363 million
- in dollar notes
- $522.6 million
- per annum
- 8.71%
Delhi International Airport Ltd (DIAL) has successfully raised ₹35,000 cr (approximately $363 million) through 15-year rupee-denominated non-convertible debentures (NCDs). The funds will refinance $522.6 million in dollar notes maturing in October 2026.
The NCDs feature an initial coupon of 8.71% per annum, linked to the RBI repo rate, aiding DIAL in addressing currency mismatch on its balance sheet. This move is expected to stabilize its financial position ahead of the dollar notes' maturity.
Not investment advice. For informational purposes only.