🟢At a Glance:
Adani Airports Holdings Ltd (AAHL) just raised a chunky$750 millionfrom foreign banks. Why? Partly to pay back old loans, partly to build better airports. But behind the glamorous numbers, the real question is:Are they expanding smartly or just rolling over expensive debt with fancier labels?
💰 The Jumbo Deal
- Amount Raised:$750 million
- Via:External Commercial Borrowings (ECB)
- Lenders:First Abu Dhabi Bank, Barclays, Standard Chartered
- Advisors:Latham & Watkins (English law), Cyril Amarchand (Indian law), others
🛫 Purpose of the Loan:
| Use | Amount (Approx) |
|---|---|
| Refinancing old $400M debt | ✅ |
| Airport infra expansion (6 cities) | ✅ |
| Boosting non-aero biz (retail, F&B, duty-free) | ✅ |
🏗️ Which Airports Will Get the Glow-Up?
Adani’s makeover plans include these 6 airports:
- Ahmedabad
- Lucknow
- Mangaluru
- Jaipur
- Guwahati
- Thiruvananthapuram
Plus,Navi Mumbai International Airport(NMIA) is on the way.
FYI:
- NMIA Phase 1 = 20 million passengers
- Target by 2040 = 300 million passengers annually (up from 94M now)
So… your flight might still be late, but at least the terminal will look like a mall in Dubai.
🧠 EduInvesting Analysis: Expansion
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