icici-bank-leads-syndication-for-delhi-airport

ICICI Bank leads syndication for Delhi Airport

In the first offshore long-term financing deal from IndiaÆs airport sector, Delhi International Airport seeks to raise $200 million through a 13-year loan.
Delhi International Airport has mandated ICICI Bank for the first offshore long-term financing deal from IndiaÆs airport sector.

The company is seeking to raise $200 million through a 13-year project finance loan at 1.85% over Libor. The funds are being raised as part of a $1.25 billion project to modernise and develop the Indira Gandhi International Airport in India's capital city. Debt worth $900 million has already been raised domestically.

With an expected life of 9.3 years, the loan is structured as a typical project finance loan and is currently being syndicated. Abu Dhabi Commercial Bank has reportedly already committed $15 million.

There are no direct Asian airport project financing comparables available for this deal,...
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