Adani Secures Major Capital Boost for Mumbai Airport Project

• Adani-led MIAL secures USD 1 billion via project finance
• This is India’s first investment grade private airport bond issued
• USD 250 million surplus provision adds financial flexibility

Mumbai International Airport Ltd (MIAL) owned by Adani Airports Holdings has successfully gained a total finance of USD1 billion financing through a project finance structure. MIAL has been running Chhatrapati Shivaji Maharaj International Airport, and the money will be utilized in the expansion of the Mumbai project. 

The gained finance transaction involves an issuance of USD750 million notes, which will be maturing in July 2029. This money will be used for refinancing, which includes a provision to raise a surplus of USD 250 million, contributing a total finance of USD 1 billion. Adani Airport Holdings (AAHL) has stated, “This framework will provide enhanced financial flexibility for the capital expenditure program of MIAL for development, modernization, and capacity enhancement.” 

The statement further highlighted that this will be India’s first investment grade-rated private bond issuance in the airport infrastructure sector. Apollo-managed funds have led this investment drive by forming a syndicate of leading institutional investors and insurance companies. This syndicate includes BlackRock-managed funds, Standard Chartered and other companies, denoting their faith in the growth of the Adani Airports platform.

Arun Bansal, CEO of AAHL said, “This successful issuance validates the strength of the Adani Airport operating platform, the robust fundamentals of Mumbai International Airport, and our commitment to sustainable infrastructure development. With participation from Apollo-managed funds and leading institutional investors, we are proud to deepen our access to global pools of capital.”

AAHL's long-term development is dependent on continued investment in upgradation, capacity expansion, digital transformation and technological development. This also incorporates the organization's sustainability agenda as it supports achieving the zero-emission goal by 2029.