The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Indian tycoon Gautam Adani is seeking a loan of about $1 billion to refinance existing debt of Mumbai’s international airport, according to people familiar with the matter.
Barclays Plc and JPMorgan Chase & Co are among banks in discussions to provide the funds to Adani Airport Holdings Ltd, the people said. Deutsche Bank AG is also in talks to help with the financing, one of the people said. Mumbai International Airport Ltd has a debt of about 80 billion rupees, the people said.
A refinancing package would come after Adani Airport in August agreed to acquire the debt of GVK Airport Developers, which owns about 50.5% of the airport in Indian financial hub.