GMR Airports is securing ₹6,000 crore through non-convertible debentures. The aim is to refinance current debts. Banks and mutual funds are participating in this fundraising. The interest rate could reach 10.50%. This move is expected to reduce average borrowing costs. The company plans to refinance debts of GAL and DIAL. Crisil has assigned A+ rating to the NCDs.
Originally published by The Economic Times https://economictimes.indiatimes.com/markets