Mumbai International Airport has hired banks as part of a debut USD-denominated bond issuance with proceeds going towards refinancing existing debt and capital expenditure purposes. The bond’s has an expected maturity of 7.25Y with size of $500mn subject to market conditions. The banks include Axis Bank, Barclays, DBS Bank, Deutsche Bank, Emirates NBD Capital, IMI-Intesa Sanpaolo, JPMorgan, Mizuho Securities, MUFG, SMBC Nikko, SocGen and StanChart. The operator of India’s second largest airport is raising funds amid signs of a recovery from travel restrictions and if the sale goes through as planned, it would be India’s third airport operator to issue dollar bonds besides GMR-held DIAL and Hyderabad airports.

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