GMR Hyderabad Accepts $139.125mn of 2024s, 2026s for Buyback

GMR Hyderabad International Airport accepted a combined $139.125mn of its 2024s and 2026s. Earlier this month, GMR Hyderabad launched a tender offer for its $300mn 5.375% 2024s and $300mn 4.75% 2026s offering to buy the 2024s at par and the 2026s at $930 per $1,000 in principal. At the tender expiry date on December 9, holders of $126.44mn (42.15% of the 2024s) and $12.685mn (4.23% of the 2026s) submitted applications to tender their bonds back.

Its 5.375% 2024s and 4.75% 2026s are currently trading at 98.575 and 93.04, yielding 6.51% and 7.27% respectively.