The refinancing will allow DIAL to replace the maturing dollar debt with long term rupee funding, while spreading repayment over several years, said one of the persons, who did not wish to be identified.
The structure also gives the airport operator the flexibility to refinance or redeem the bonds after five years.
Read Also: Info Edge Q1 Results: Standalone Profit falls 6% YoY to Rs 245 croreA DIAL spokesperson did not respond to ET's queries.DIAL is targeting a mid-October pay-in for the proposed issue and plans to finalise investors this month, according to the transaction details.
The bonds are expected to carry an AA rating.
Interest will be paid every quarter.
