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Bond Market News
Adani Airports Secures $750mn for Loan Refinancing, Operational Expansion
June 5, 2025
Adani Airports secured $750mn via the external commercial borrowing (ECB) route from a consortium of international banks. Adani Airports aims to substantially increase its total passenger handling capacity to 300mn per annum by 2040 through phased development. Proceeds from the loan will be used partly to refinance an estimated $400mn in loans, with the remainder being used to fund significant infrastructure upgrades and capacity expansion at six operational airports. Funds will also scale non-aeronautical businesses like retail, food & beverage, and duty-free services across the airport network. This latest financing round adds on to a period of steady fundraising for Adani offshore. Earlier this month, the group secured $750mn via a private placement, and in March, Adani Green successfully arranged a $1bn loan refinancing facility from Power Finance Corporation (PFC).
Its dollar bonds have trended higher from the time the fundraise was first reported in end-April. Its 4.375% 2029s are up by 4 points since April, currently trading at 93.14, yielding 6.31%.
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