GMR will use ₹1,520 crore proceeds from the bonds to repay term loans, ₹227 crore for repayment of subordinated debt, ₹300 crore to repay sponsors debt, ₹290 crore for capex of phase 2 of the airport construction, according to the bond documents available at the Bombay Stock Exchange.
Despite losing the bids to operate six airports of the Airports Authority of India under PPP, GMR is expected to continue to pursue growth aggressively while maintaining a conservative balance sheet
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