Adani Airport Holdings raises $120 million through local bond issue
Indian markets moved higher in an infrastructure development.
· Economic Times Markets
Adani Airport Holdings successfully conducted a bond sale, raising 10 billion rupees to support its operations. The three-year bonds have a coupon rate of 8.96% per annum, payable quarterly. These funds will be used for capital expenditure across Adani's airport network to enhance growth. The company also recently raised around $1 billion from private equity investors.
The analysis
Infra spending is both an economic-cycle signal and a direct order pipeline for capital-goods names.
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