(RTTNews) - Apollo (APO) announced that funds managed by Apollo, along with affiliates and other long-term investors, have completed a $750 million investment-grade financing for Mumbai International Airport Ltd. or MIAL, a subsidiary of Adani Airports Holdings Limited and part of the Adani Portfolio. MIAL operates Chhatrapati Shivaji Maharaj International Airport, India's second-largest airport.
The four-year senior secured notes will primarily be used to refinance existing debt, enhancing MIAL's financial flexibility to support operations, modernization, and sustainability initiatives. The structure also includes an option for up to $250 million in additional funding to accelerate capital expenditure and capacity expansion. This transaction ranks among the largest private investment-grade deals in India's infrastructure sector.
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