Rosie Slater

. The bank is chosen for the first offshore long-term financing deal from India's airport sector. Delhi International seeks to raise $200 million

Delhi International Airport has mandated ICICI Bank for the first offshore long-term financing deal from India's airport sector.

The company is seeking to raise $200 million through a 13-year project finance loan at 1.85% over Libor. The funds are being raised as part of a $1.25 billion project to modernise and develop the Indira Gandhi International Airport in India's capital city. Debt worth $900 million has already been raised domestically.

With an expected life of 9.3 years, the loan is structured as a typical project finance loan and is currently being syndicated. Abu Dhabi Commercial Bank has reportedly already committed $15 million.

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Posted by dcjaya at January 11, 2008 9:36 PM