ICICI Bank, Axis Bank, and India Infrastructure Finance Ltd (IIFL) have collectively subscribed to ₹800 crore bonds issued by GMR group-promoted Delhi International Airport. The bonds, raised for 10 years at an annualised coupon of 9.84% with a reset clause at the end of five years, will finance the capital expenditure for phase 3A expansion at Indira Gandhi International Airport. Last week, ICICI Bank and Axis Bank invested ₹300 crore each, while IIFL invested ₹200 crore in the bonds, which are linked to the repo rate with a spread cap and floor.
from Banking/Finance-Industry-Economic Times https://ift.tt/SFuVGse
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