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Cyril Amarchand Mangaldas advised GMR Visakhapatnam International Airport on INR 3215 crore financing of Bhogapuram International Airport

IndiaCyril Amarchand Mangaldas advised GMR Visakhapatnam International Airport on INR 3215 crore financing of Bhogapuram International Airport

Business Wire India

Cyril Amarchand Mangaldas (CAM) advised GMR Visakhapatnam International Airport (GMR) on financing of Bhogapuram International Airport by way of a rupee facility of INR 3,215 crore from a consortium of 5 banks/financial institutions led by India Infrastructure Finance Company Limited.  The proceeds of the loan will be utilized towards construction and development of Phase – I of Bhogapuram International Airport, which will cater to 6 million passengers annually.

The Project Finance Practice of Cyril Amarchand Mangaldas advised on the transaction. Transaction team was led by Ajay Sawhney, Partner; Bhupendra Verma, Partner; with support from Aditya Pandey, Principal Associate- Designate; Ashish Jain, Associate; and Nikhil Gupta, Associate.

The deal was signed on 7th December 2023 and closed on 8th December 2023.

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