GMR Group’s Delhi International Airport (DIAL) is discussing the possibility of raising $350 million through a debt issuance, in order to refinance existing dollar bonds. The company is in talks with bankers, including HSBC and JP Morgan, to gauge investor interest. The proceeds from the bond will be used to refinance a $450 million note due in October 2025. The GMR Group plans to use the funds to increase passenger capacity and complete the Phase III expansion of the airport before April 2024.
Tesla and SpaceX CEO Elon Musk reportedly assured bankers that they will not lose money after taking $13 billion in loans to fund his Twitter acquisition. However, the banks are facing potential losses on the debt if and when they eventually sell it. Musk’s X platform is experiencing a decline in ad revenue, which may cause financial difficulties for the company. If X cannot meet its financial obligations, bankruptcy is a possibility.
