GMR Airports Ltd ( (IN:GMRAIRPORT) ) has shared an update.
GMR Airports Limited announced that its subsidiary, GMR Visakhapatnam International Airport Limited (GVIAL), has secured a Sub-ordinate Debt Facility of INR 350 crore from Tata Capital Limited and Aditya Birla Finance Limited as part of the funding for the Bhogapuram International Airport project in Visakhapatnam. The company has provided a Sponsor Support Undertaking to secure this debt, which will remain valid throughout the debt’s duration. The airport is initially designed to handle 6 million passengers annually, with plans for future expansion based on traffic growth. The financial closure for the project was achieved with a consortium of five lenders, and there is currently no impact of the Sponsor Support Undertaking on GMR Airports Limited.
More about GMR Airports Ltd
GMR Airports Limited, formerly known as GMR Airports Infrastructure Limited, operates in the airport infrastructure industry. The company is involved in the development and management of airports, focusing on enhancing airport facilities and services to accommodate growing passenger traffic.
YTD Price Performance: -1.03%
Average Trading Volume: 811,048
Current Market Cap: 821B INR
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