Delhi International Airport Limited (DIAL), a subsidiary of GMR Airports Limited and a step down subsidiary of GMR Infrastructure Limited (GIL), announced that it had on February 18, 2020 successfully priced Tap of Senior Secured Notes of US$150 Mn aggregate, due in 2029 (1 0 years Bond), along with earlier Senior Secured Notes of USD 350 Mn. The Notes have been priced at effective interest rate of 5.343% and have been oversubscribed by more than eight times.
The proceeds from the Notes will be utilized to partly finance the Phase 3A Expansion.
Commenting on the occasion, Mr. Grandhi Kiran Kumar, Corporate Chairman, GMR Group said, "We are delighted on the successful pricing of this transaction. The offering through DIAL was oversubscribed by more than 8 times. This confidence of investors reinforces our ability to raise funds from the International Bond Markets and reflects our continued effort to create value for our investors and raise capital for growth. The successful pricing of the offering underscores investors' confidence in GMR Group and credit strength of DIAL".
Shares of GMR INFRASTRUCTURE LTD. was last trading in BSE at Rs.23.05 as compared to the previous close of Rs. 22.55. The total number of shares traded during the day was 284844 in over 1236 trades.
The stock hit an intraday high of Rs. 23.15 and intraday low of 22.5. The net turnover during the day was Rs. 6536949.