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GMR seeks to restructure portion of its Rs 4,000-crore debt liability
Posted on 20th April 2018
NEW DELHI | MUMBAI: The GMR Group’s promoter holding company is seeking to restructure a portion of its Rs 4,000-crore debt liability as the Bengaluru-based infrastructure firm seeks flexibility in balance sheet to meet future capital requirements of its businesses.

More than a dozen lenders — including US private equity giant KKR’s NBFC arm, Yes Bank, Srei Infrastructure, HDFC, L&T and Piramal Group — have either given loan or subscribed to non-convertible debentures (NCD) of the parent. Lenders hold GMR Infra shares as collateral in some cases.


Coal scheme gives revival push to GMR, Adani, GVK plants
Posted on 23rd December 2017
The first round of bidding under the central government's SHAKTI scheme for providing coal to private power units would see revival of 10,000 Mw of generation capacity, it is estimated.

Among the companies to benefit are Adani Power, Lalitpur (Bajaj Hindustan), KSK Mahanadi, GMR Energy and GVK. These stressed assets had a locked investment of at least Rs 40,000 crore.


GMR-Megawide lowest bidder for $250-mn Clark International Airport project
Posted on 16th December 2017
The GMR Group on Friday said it along with its partner Philippines-based Megawide Construction Corporation emerged as the lowest bidder for the $250 million Clark International Airport project in the southeast Asian nation.

Clark airport is being developed by Government of Philippines through a hybrid model with EPC and O&M tenders being issued separately.


GMR-Megawide lowest bidder for $250-million airport project in Philippines
Posted on 15th December 2017
HYDERABAD: The GMR Group today said it along with its partner Philippines-based Megawide Construction Corporation emerged as the lowest bidder for the USD 250 million Clark International Airport project in the southeast Asian nation.

Clark airport is being developed by Government of Philippines through a hybrid model with EPC and O&M tenders being issued separately.


GMR, partner in race for $250 mn airport project in Philippines
Posted on 7th December 2017
A GMR group company along with its partner, Manila-based Megawide, is in the race for the $ 250 million Clark International Airport new terminal building project in Philippines.

According to a statement issued by the Department of Transportation (DOTr) and the Bases Conversion and Development Authority (BCDA) of the southeastern nation, seven firms submitted the bid documents for the design, engineering, and construction of the Clark International Airport new terminal building in Philippines.


GMR Infrastructure Q2 standalone net loss narrows to Rs276 crore
Posted on 23rd November 2017
New Delhi: GMR Infrastructure Ltd’s standalone net loss for the September quarter narrowed to Rs276.41 crore due to a fall in provision for diminution in value of investments and advances.

The company had reported a net loss of Rs700.34 crore in the year-ago period. Its total revenue declined to Rs206 crore as against over Rs331.22 crore a year ago, GMR Infrastructure said in a BSE filing on Wednesday.


Malaysia Airports, GMR plan funds for expansion
Posted on 27th October 2017
HYDERABAD: Airport developer and operator GMR, and its equity partner Malaysia Airports Holdings Berhad, are looking at setting up investment funds for their next phase of global expansion.

While the size of Malaysia Airports' investment fund would be around $1.5 billion, GMR is yet to announce the size of its fund.


GMR to spend $75 mn of bond money on Hyderabad airport expansion
Posted on 23rd October 2017
GMR Hyderabad International Airport Limited(GHIAL) will utilise $75 million (close to Rs 490 crore) out of the total $350 million (Rs 2,276 crore) that it has raised in the international bond market on capital expenditure for the airport expansion. The rest of the proceeds will be used to refinance the existing debt.

GMR Airports Limited president Sidharath Kapur on Monday elaborated on the fund utilisation plan of the subsidiary company after broadly indicating the purpose of $350 million bonds issue couple of days ago.


GMR Hyderabad International Airport to raise Rs 2,276 crore global bonds
Posted on 21st October 2017
HYDERABAD: GMR Hyderabad International Airport has announced raising $350 million, or about Rs 2,276 crore, in the international bond market, reflecting the third consecutive US dollar bond offering by GMR Group.

GMR Hyderabad International Airport (GHIAL), a subsidiary of GMR Airports and step down subsidiary of GMR Infrastructure, in a statement on Friday said it plans to entirely refinance the outstanding rupee term loans and external commercial borrowings, apart from deploying them towards partial funding of proposed capital expenditure.


GMR Hyderabad International Airport to start $300 mn-$350 mn bond issue roadshows
Posted on 11th October 2017
GMR Hyderabad International Airport (GHIAL) will commence roadshows for its $300-350 million dollar bond issue beginning Wednesday in New York, London, Hong Kong and Singapore, sources aware of the matter have confirmed with FE.

“It will be a 144A issue and the tenure of the bond is likely to be 10 years. The issue will be a high yield,” a banker aware of the deal said. A 144A issue is a deal in which US investors can also take part.


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