GMR Airports Ltd. is considering a 50 billion rupees ($579 million) local-currency bond sale, according to people familiar with the matter, in what could be a record rupee issuance for India’s second-largest private airport operator.
The New Delhi-based company is considering to raise the funds through a note due in 18-months to three years and will use the proceeds to refinance existing debt, one of the people said, asking not to be identified as the details are private. The firm may aim to price the securities at about 10.5%, the person said.
