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 (10 years Bond), along with earlier Senior Secured Notes of USD 350 mn.
The stock is currently trading at Rs23.25 up by Rs0.2 or 0.87% from its previous closing of Rs23.05 on the BSE.
The Notes have been priced at an 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.
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".
The scrip opened at Rs22.80 and has touched a high and low of Rs23.50 and Rs22.80 respectively.
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