Thu 11/16/2023 09:02 AM
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UPDATE 1: 9:02 a.m. ET 11/16/2023: GMR Airports Ltd., or GAL, today, Nov. 16, has raised around INR 19 billion ($240.59 million) through a private placement of three-year non-convertible debentures, or NCDs, said two sources familiar with the matter. Deutsche Bank, JPMorgan, Bank of America and Varde Partners are among investors, the sources said.

The funds raised are the first of three NCD tranches planned by the company, and will be used to partly refinance GAL’s debt, as...
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