Adani’s Mumbai Airport Arm Secures $1 Billion in Global Financing, Led by Apollo Group

Adani’s Mumbai International Airport Ltd. (MIAL), a subsidiary of Adani Airport Holdings, has clinched a major $1 billion financing package from a consortium of global investors, with $750 million coming from Apollo Global Management and affiliates. This marks one of the largest investment-grade deals in India’s infrastructure sector and is set to power the next phase of growth for the country’s second-largest airport.

 

Key Highlights:

 

$750 Million from Apollo: The bulk of the new funding comes from Apollo-managed funds and other long-term investors, structured as four-year senior secured notes. This capital will primarily be used to refinance existing debt, providing greater financial flexibility for MIAL’s operations and expansion.

 

Additional $250 Million Option: The financing structure allows for up to $250 million in extra funding to support future capital expenditure and capacity expansion, reflecting investor confidence in Adani’s airport business.

 

Global Investor Participation: Alongside Apollo, other major international lenders and insurers, including Metlife, BlackRock, and FWD Insurance, have participated in the deal, underscoring robust global interest in Indian infrastructure assets.

 

Strategic Growth Plans: The funding will help MIAL invest in modernization, sustainability, and capacity upgrades. Initiatives include transitioning to electric vehicles, improving energy efficiency, and supporting Adani’s goal of achieving net zero emissions by 2029.

 

IPO on the Horizon: Adani Airport Holdings is preparing for a potential public listing by March 2027, with this financing strengthening its balance sheet ahead of the move.

 

Expanding Network: MIAL is a cornerstone of Adani’s airport network, which manages eight airports across India and is developing the Navi Mumbai International Airport, expected to add significant capacity in the coming years.

 

Legal and Advisory Support: The transaction involved top international and Indian legal firms, reflecting its complexity and scale.

 

This landmark deal not only boosts Mumbai International Airport’s financial strength but also signals growing global confidence in India’s infrastructure and aviation future.

 

Source: Reuters, GlobeNewswire, Bloomberg, The Hindu Business Line, Financial Post, Adani Newsroom