After delaying a scheduled note offering, Mumbai International Airport Ltd. has raised $750 million through a private bond sale to Apollo Global Management Inc.
According to a stock exchange notification, the operator of India’s No. 2 airport, which is controlled by the country’s richest man, issued 7.25-year dollar notes to Apollo-managed funds to refinance current debt and fund new capital investment. The deal’s terms were not specified in the statement.
Several Asian firms have revised their dent sale plans as a result of a worldwide bond market rout. Last month, Kalyan Jewellers India Ltd. announced the cancellation of a dollar bond offering, and India’s local currency debt market has experienced a slew of cancellations in recent months.