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.
