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The NCDs carry an initial coupon of 8.71% a year, payable quarterly. The coupon is linked to the RBI repo rate, with an initial spread of 375 basis points, and will reset after five and 10 years. India Infrastructure Finance Company Ltd (IIFCL) was the largest investor, subscribing ₹1,426 crore. NIIF Infrastructure Finance invested ₹550 crore, while HDFC Bank, ICICI Bank and IDFC First Bank subscribed ₹481 crore, ₹433 crore and ₹409 crore, respectively. SBI Capital Markets subscribed ₹200 crore. DIAL raises 3,500 crore to refinance $522.6 m dollar bonds Delhi International Airport Ltd has successfully raised ₹3,500 crore through 15-year rupee-denominated non-convertible debentures. This financing aims to refinance its upcoming $522.6 million dollar notes maturing in October 2026. Major investors included India Infrastructure Finance Company and various banks that subscribed substantial amounts. HDFC Bank and ICICI Bank were the arrangers. The key information document names HDFC Bank, ICICI Bank, IDFC First Bank and NIIF Infrastructure Finance as anchor investors, with a combined allocation of ₹1,050 crore. The proceeds will be used for the full redemption, repurchase or refinancing of the $522.6 million notes due in 2026 and to meet issue-related costs. After refinancing the October 2026 maturity, DIAL will have $500 million of dollar bonds due in June 2029. ICRA has said the company could partly repay the 2029 bonds through internal cash accruals and land monetisation and refinance the balance. "DIAL has a moderately leveraged capital structure, with the presence of bullet repayments in the medium term, exposing the company to refinancing risk. It has major debt maturities due in October 2026 and June 2029," ICRA said in a report. Also read: Adani Airports to revamp Mumbai T1 North section from Jan; 9% traffic to shift DIAL is a joint venture between GMR Airports Ltd and Airports Authority of India. GMR Airports holds 74% and AAI 26%. The company operates Delhi's Indira Gandhi International Airport under a 30-year concession, extendable by another 30 years. (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price (What's moving Sensex and Nifty Track latest market news, stock tips, Budget 2025, Share Market on Budget 2025 and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today. Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price
document fetched 2026-10-05 02:56