CAM, Luthra advise investors on Bangalore International Airport's ₹9,000 crore NCD issuance

Bangalore International Airport Limited has raised an aggregate amount of ₹9,000 crore through an issuance of secured, unlisted, rated, redeemable, taxable non-convertible debentures on a private placement basis, in multiple tranches.

The initial tranche is of ₹4,362 crore, with an option for an additional investment of INR 4,638 crore.

Cyril Amarchand Mangaldas acted as Investors' counsel on this transaction.

The transaction team was led by Amey Pathak (Partner, Head - Banking) and Yash Jain (Partner), with support from Sohrab Kharadi (Principal), Janani Chandrasekaran (Senior Associate Designate) and Gauransh Gaur (Associate).

Luthra and Luthra Law Offices India acted as legal counsel to Indian Infrastructure Finance Company Limited, one of the investors.

The transaction team was led by Girish Rawat (Partner), with support from Ashneet Chhabra (Managing Associate) and Ranjini Ghosh (Associate). 

This is the largest unlisted private placement of NCDs in India’s airport sector.

Bangalore International Airport will utilise the funds for refinancing its existing borrowings taken for the development of Terminal 2, the second runway, and funding future infrastructure expansion projects at Kempegowda International Airport, Bengaluru.

If you would like your Deals, Columns, Press Releases to be published on Bar & Bench, please fill in the form available here.