GMR Airports Infrastructure Limited (GAL), GMR group listed for the assets of the GMR Group, to retire the current high -cost loans according to people familiar with development, to raise 5,700 crore. Dutash Bank and JP Morgan have been appointed as lead Arrangers for transactions.
According to the economic time, the company is contacting a mixture of banks, non-banking finance companies (NBFCs), and mutual funds, targeting for mixed lending costs of about 10.5 percent. This can reduce its average interest cost by about 300 basis points.
According to sources, Tata Capital is expected to contribute ₹ 1,000 crore, while JP Morgan, Deutash Bank, and Barclays can bring ₹ 1,000 crore ,, 1,500 crore and ₹ 1,000 crore respectively. Mutual funds are expected to provide the remaining 1,200 crore.
Dutash Bank and Barclays spokespersons refused to comment. GMR, Tata Capital and JP Morgan did not respond to the recommendations of the comment.
The fundamental raids follows a recent corporate reorganization that leads the loan of the gall to the operating company level, which enables different sources of capital to reach. Gal recently referred the DEL 2,500 crore Delhi International Airport Limited (DIAL) loan, which reduced the interest rate to 12 percent.
Gal is the owner of airports in co-pomp by Groupe ADP, Delhi (DIAL) and Hyderabad (GHIAL). According to the care rating, these airports registered an increase of 7.8 percent in the year-by-year passenger traffic and 15.9 percent respectively in the first ten months of FY 25.
