Delhi International Airport Ltd (DIAL) extended the tender offer for its 6.125% 2022s from the previous deadline of March 15 to March 18, 2021. If the offer is successful, it will purchase the notes at $1,020 per $1000 in principal plus accrued interest. DIAL will not be obligated to accept for purchase, and pay for, any of the 2022s tendered if any of the following shall not have occurred: (i) satisfaction of the Financing Condition (as defined in the Offer to Purchase and Consent Solicitation Statement); and (ii) satisfaction of other conditions set forth in the Offer to Purchase and Consent Solicitation Statement. The Financing Condition refers to the issuance of Non-Convertible Debentures (NCDs) by the Company and the receipt of the proceeds thereunder. DIAL’s bonds were unchanged – its USD 6.45% 2029s and USD 6.12% 2022s are at 101.16 and 102, yielding 6.26% and 3.77% respectively.

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