Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us    
Google
Web www.equitybulls.com
Union Budget
Budget 2011-2012 Home
Industry Expectations - Budget 2011-2012
Industry Reactions - Budget 2011-2012
Budget 2010-2011
Budget 2010-2011 Home
Industry Expectations - Budget 2010-2011
Industry Reactions - Budget 2010-2011
Contributor's Corner
Bonanza Portfolio
Hemant K Gupta
Krish Bhatt
S A A R T H I
Trinity Investments
Exchange Information
BSE 2009 Holidays
NSE 2009 Holidays
Investor Guide
Depository & Dematerialisation
Grievance Redressal
Investor Guide
SEBI
Trading of Securities
Transfer of Securities
Your Rights
Budget 2009-2010
Budget 2009-2010 Home
Industry Expectations - Budget 2009-2010
Industry Reactions - Budget 2009-2010
Interim Budget 2009-2010 Home
Industry Expectations - Interim Budget 2009
Budget 2008-2009
Railway Budget 2008-2009
Industry Expectations - Budget 2008
Union Budget 2008-2009
Highlights of Budget 2008-2009
Summary of Budget 2008-2009
Industry Reactions - Budget 2008
IPOs
Current IPOs
Past IPOs
IPO Subscription
Mutual Funds
Gold Exchange Traded Fund
MF Unique Holding
Forthcoming Dividends
ELSS Schemes Comparison
Tax Plans
New Fund Offers
Research
Arbitrages
Equity
Market Whispers
Tax Planning
Home
Equity Linked Savings Scheme
Post Office MIS
9% GOI Senior Citizens Savings Scheme
8% Savings (Taxable) Bonds
Kisan Vikas Patra
National Savings Certificate
Public Provident Fund
Stock Report

| More

GMR Hyderabad International Airport to allot $350 Mn of 4.25% senior secured fixed rate notes

Posted On: 2017-10-20 05:04:38

GMR Hyderabad International Airport Limited (GHIAL), a subsidiary of GMR Airports Limited and GMR Infrastructure Limited (GMR Group), announced that it has on 19th October 2017 successfully priced an offering of US$ 350 Mn bond in the international bond market. GHIAL has entered into a Purchase Agreement to issue and allot US$ 350 Mn of 4.25% senior secured fixed rate notes of 10 year tenure (the "Notes"). The proceeds from the Notes will be used to entirely refinance the current outstanding Rupee Term Bank Loan ("RTL"), Bank External Commercial Borrowing ("ECB") and towards partial funding of proposed capital expenditure.

Commenting on the occasion, Mr. Grandhi Kiran Kumar, Corporate Chairman, GMR Group ("the Group") said, "We are delighted on the successful pricing of this transaction. The GMR Group, through Delhi International Airport Ltd. was the first Indian company to issue 7 year and 10 year High Yield bonds in the infrastructure space. GMR group is the only group in India to tap the 10-year US Dollor bond market in the same infrastructure class across assets. The offering through GMR Hyderabad International Airport Ltd. (GHIAL) reinforces our ability to raise funds from the International Bond Markets. The bond offering reflects our continued effort to create value for our investors and boost liquidity within the GMR Group. The successful pricing of the offering underscores investors' confidence in GMR Group and credit strength of GHIAL".

Mr. Sidharath Kapur, President, GMR Airports Ltd, said, "The pricing of the offering at a rate of 4.25% p.a. reflects the resounding fundamentals of the credit of Hyderabad Airport and that of the Indian growth story. It saw global investment interest from high quality investors in Asia, Europe and USA and was oversubscribed multiple times. This pricing is a benchmark being the lowest 10 year US Dollor bond coupon by a corporate high yield issuer from Asia and the lowest US Dollor bond coupon achieved by an Indian high yield issuer across tenors. The proceeds of the offering will completely refinance the bank term loans at Hyderabad Airport and is expected to bring a long dated efficient termed out structure ideal for regulated infrastructure projects into our capital structure".

The other key highlights of the transaction are:

1) Inaugural US Dollar bond offering by GHIAL
2) Third consecutive US Dollar bond offering by GMR group
3) Lowest US Dollar 10-yr bond coupon by a Corporate High Yield Issuer from Asia.
4) Lowest US Dollar bond coupon ever achieved by an Indian High Yield Issuer
5) Price tightening of 37.5 bps from the initial guidance to final pricing

Bank of America Merrill Lynch and HSBC acted as Joint Global Coordinators while Citigroup and J.P. Morgan acted as Joint Book Runners for the issue with Yes Bank as Joint Lead Manager and Elara Capital as Co-Manager.

Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.16 as compared to the previous close of Rs. 16.05. The total number of shares traded during the day was 512111 in over 582 trades.

The stock hit an intraday high of Rs. 16.2 and intraday low of 15.8. The net turnover during the day was Rs. 8198653.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com





Other Headlines:

Shervani Industrial Syndicate Ltd Q3 net profit at Rs. 2.05 crores
Kewal Kiran Clothing Ltd Q3 PAT rises to Rs. 10.38 crores
Bharti Airtel Ltd Q3 PAT slides to Rs. 560.7 crores
Kirloskar Industries Ltd posts net profit of Rs. 2.30 crores in Q3
Deepak Nitrite Ltd Q3 PAT higher at Rs. 20.34 crores
Trident Ltd Fixes Record Date for 2Nd Interim Dividend for Financial Year 2017-18
IEX trades 13 lac ESCerts under PAT Cycle 1
Asian Hotels North Limited calls for Board Meeting on Jan 31, 2018
Orient Green Power Company Ltd to consider fund raising on Jan 24, 2018
Control Print Ltd calls for Board Meeting on Jan 31, 2018
Divi's Laboratories Ltd to consider Q3 results on Jan 27, 2018
Trident Ltd Board to consider Q3 results & Second Interim Dividend on Jan 29, 2018
Tube Investments of India Ltd subscribes to shares of TI Tsubamex Private Limited
Biocon Announces Exclusive Global Collaboration with Sandoz on Next-Generation Biosimilars
Chanakya Investments Ltd appoints company secretary
Ultratech Cement Ltd Q3 PAT at Rs. 456.66 crores
Cyient Ltd Q3 net profit slips to Rs. 87.1 crores
YES Bank Ltd Q3 PAT up at Rs. 1076.87 crores
Mastek Ltd reports Q3 net profit of Rs. 18.43 crores
Adani Ports and Special Economic Zone Ltd Q3 PAT rises to Rs. 1001 crores
Adani Enterprises Ltd Q3 net profit drops to Rs. 286.97 crores
Hindustan Zinc Ltd Q3 PAT lower at Rs. 2230 crores
Royal Orchid Hotels Ltd to approve third quarter results on Feb 1, 2018
SPML Infra JV Secures International Order worth USD 32.01 Million
Meghmani Organics Ltd calls for Board Meeting on Feb 10, 2018
Techno Electric and Engineering Company Ltd to announce 3rd quarter results on Feb 9, 2018
Dwarikesh Sugar Industries issues CP of Rs. 40 crores
Orient Bell Ltd to consider Q3 results on Jan 30, 2018
Rashtriya Chemicals & Fertilizers Ltd updates on additional charge
Hindustan Everest Tools Ltd to consider quarterly results on Jan 25, 2018
Mukand Engineers Ltd calls for Board Meeting on Feb 14, 2018
Sarla Performance Fibers Ltd calls for Board Meeting on Jan 31, 2018
India debut of Maruti Suzuki's All-New Swift at Auto Expo 2018
Power Mech Projects Ltd receives LOI worth Rs. 192 crores
Ejecta Marketing Ltd announces operationalisation of new outlet of Birthday store in Dasnagar, Howrah
Cerebra Integrated Technologies Ltd expands its E-Waste Recycling business
Jeevan Scientific Technology Ltd updates on completion of second USFDA audit
D B Corp Ltd Q3 net profit slides to Rs. 78.10 crores
Kansai Nerolac Paints Ltd updates on new project at Goindwal Sahib near Amritsar
Matrimony.com Ltd to consider Q3 results on Feb 1, 2018
Suven Life Sciences secures Product Patents in China and Sri Lanka
SQS India BFSI Limited to approve third quarter results on Jan 25, 2018
Sukhjit Starch & Chemicals Ltd to consider Q3 results on Feb 7, 2018
Venky's India Limited to announce 3rd quarter results on Feb 7, 2018
Page Industries Ltd Fixes Feb 17, 2018 as Record Date for Third Interim Dividend
Polymac Thermoformers Limited updates on compliance officer
Indo Gulf Industries Ltd announces resignation of company secretary
Lakshmi Vilas Bank Ltd to announce third quarter results on Jan 30, 2018
V2 Retail Ltd to consider quarterly results on Feb 3, 2018
Bombay Dyeing & Manufacturing Company Ltd to approve 3rd quarter results on Feb 8, 2018


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2018