Adani Airports Holdings Ltd (AAHL), a wholly owned subsidiary of Adani Enterprises Ltd, has secured a total of $1 billion in project finance for the Mumbai International Airport Ltd (MIAL), marking a major milestone for India’s private airport infrastructure sector.

The financing package includes the issuance of $750 million in notes maturing in July 2029, with proceeds earmarked for refinancing purposes. An additional $250 million may be raised under the current structure, taking the total available financing to $1 billion. The funding will be directed toward the ongoing capital expenditure plan for MIAL, focusing on development, modernisation, and capacity enhancement.

Backed By Global Institutions

The latest transaction comes on the heels of AAHL’s previous $750 million financing secured from a global banking consortium, further showcasing Adani's expanding access to international capital markets.

“This successful issuance validates the strength of the Adani Airports’ operating platform, the robust fundamentals of Mumbai International Airport, and our commitment to sustainable infrastructure development,” said Arun Bansal, CEO of Adani Airports Holdings Ltd.

He added, “With participation from Apollo-managed funds and leading institutional investors, we are proud to deepen our access to global pools of capital. Our ability to secure one of the largest private investment-grade project finance issuances demonstrates our commitment to financial discipline, capital efficiency, and long-term value creation.”

India’s First IG-Rated Private Airport Bond

This financing marks India’s first investment-grade private bond issuance in the airport sector. Backed by stable cash flows and operational performance of MIAL, the notes are expected to receive a BBB-/Stable rating. Key participants include Apollo-managed funds, BlackRock-managed funds, and Standard Chartered, among others.

In addition to enhancing financial flexibility, the transaction supports MIAL’s sustainability goals, including its target to achieve net-zero emissions by 2029. AAHL reaffirmed its long-term commitment to transforming Indian airport infrastructure through digitalisation, capacity upgrades, and modern technologies.