Delhi Intl Airport lands debut dollar bond

Big order book for seven-year deal, which raised $288.75m, highlights strong secondary market momentum in Asian high yield sector.

Delhi Intl Airport lands debut dollar bond

Delhi International Airport Ltd Dial priced a well-received, debut dollar-denominated bond on Tuesday that demonstrates the current strength of secondary market momentum in Asia's high yield sector. 

The Ba1BB-rated issuer completed a seven-year Reg S deal at par with a coupon and re-offer yield of 6.125%, raising $288.75 million. This was the tight end of revised guidance, which started off around the 6.5% level and was then narrowed to...

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