Adani Airports Raises USD 750 M ECB to Fund Expansion & Debt Refinancing

India’s largest private airport operator, Adani Airports Holdings Ltd (AAHL), has secured USD 750 million through external commercial borrowings (ECBs) from a consortium led by First Abu Dhabi Bank, Barclays, and Standard Chartered. Of this, USD 400 million will refinance existing debt, with the balance allocated for upgrading infrastructure and expanding capacity across six airports—Ahmedabad, Lucknow, Mangaluru, Jaipur, Guwahati, and Thiruvananthapuram—and boosting non‑aeronautical services like retail, food & beverage, and duty‑free.

In FY 2024‑25, AAHL handled 94 million passengers against a capacity of 110 million. With this fresh capital, the operator plans to triple its capacity to 300 million annual passengers by 2040. A key component of the expansion is the upcoming Navi Mumbai International Airport, expected soon to launch with an initial capacity of 20 million and scaling to 90 million in later phases.

AAHL CEO Arun Bansal praised the deal, noting that backing from international institutions “underscores the long‑term value and potential of India’s aviation infrastructure”. Legal advisory was provided by Latham & Watkins and Linklaters (English law), and Cyril Amarchand Mangaldas and TT&A (Indian law).