MUMBAI : GMR Airports Ltd, the airports business of GMR Infrastructure Ltd, on Monday, said its French partner Groupe Aeroports de Paris SA (ADP) has raised €2.5 billion through bonds, amid global market volatility due to the coronavirus outbreak.
The bonds, raised in two tranches of €1 billion and €1.5 billion each, were priced at effective interest rates of 2.125% and 2.75% with maturities of 6.5 years and 10 years, respectively.
The fixed rate bonds were oversubscribed by more than five times, according to a statement issued by the company. “The over-subscription of bonds in current economic scenario is the testimony of faith, international investors have in Groupe ADP, as global airport developer and operator," it said.