By Rebecca Melvin
New York, Oct. 20 – GMR Hyderabad International Airport Ltd., a subsidiary of GMR Airports Ltd. and GMR Infrastructure Ltd., has priced $350 million of 4¼% notes due 2027, according to a news release.
Final pricing was tightened by 37.5 basis points from initial guidance.
Proceeds will be used to refinance an outstanding rupee-denominated term bank loan, bank external commercial borrowing and partial funding of proposed capital expenditure.
BofA Merrill Lynch and HSBC acted as joint global coordinators while Citigroup and JPMorgan acted as joint bookrunners, with Yes Bank as joint lead manager and Elara Capital as co-manager.
Bangalore, India-based GMR Infrastructure owns 63% of GMR Hyderabad Infrastructure Airport.
| Issuer: | GMR Hyderabad International Airport Ltd.
|
| Amount: | $350 million
|
| Maturity: | 2027
|
| Description: | Notes
|
| Global coordinators: | BofA Merrill Lynch and HSBC
|
| Bookrunners: | Citigroup and JPMorgan
|
| Joint lead manager: | Yes Bank
|
| Co-manager: | Elara Capital
|
| Coupon: | 4¼%
|
| Trade date: | Oct. 19
|
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