New Delhi: Adani Airports Holdings Limited announced on Tuesday that it has successfully secured approximately $1 billion in financing through a project finance structure for its Mumbai International Airport Limited, which operates Chhatrapati Shivaji Maharaj International Airport. This transaction includes the issuance of $750 million of notes maturing in July 2029, which will be used for refinancing. The financing structure also consists of a provision to raise an additional $250 million, resulting in a total financing of $1 billion.
This framework will provide enhanced financial flexibility for MIAL’s capital expenditure programme, supporting development, modernisation, and capacity enhancement—a wholly owned subsidiary of Adani Enterprises and India’s largest private airport operator.
This is India’s first-ever investment in graded-rated private bond issuance for airport infrastructure facilities and sectors. This transaction will be led by Apollo-managed funds, with participation from a syndicate of leading institutional investors and insurance companies, including BlackRock-managed funds and Standard Chartered, among others. This involvement underscores global confidence in India’s infrastructure opportunities and Adani Airport’s operating platform.
This successful issuance validates the strength of Adani Airports, which operates the platform, the robust fundamentals of Mumbai International Airport, and our commitment to sustainable infrastructure development. With the participation of Apollo-managed funding and leading institutional investors, we will be able to deepen our access to global pools of capital, and people will be proud. Their ability to secure one of the most significant private investment-grade project finance issuances demonstrates their commitment to financial discipline, capital efficiency, and long-term value creation.
The legal advisors to the transaction involved A&O, Shearman and Cryil Amarchand Mangaldas for MIAL, while Milbank LLP and Khaitan & Co were the investor counsels. AAHL remains committed to the long-term vision of transforming the airport’s infrastructure through continued investments in modernisation, capacity expansion, digitisation, and technology integration. This transaction will also accelerate MIAL’s sustainability agenda, supporting its goal to achieve net-zero emissions by the end of 2029.
