Mumbai Airport gets $750m in Apollo private placement

Mumbai International Airport has raised $750m from a private bond sale to Apollo Global Management Inc. after delaying a planned note issue. The operator of India’s No. 2 airport, controlled by the country’s richest man, sold 7.25-year dollar notes to funds managed by Apollo in order to refinance existing debt and fund new capital expenditure, according to a stock exchange notice. The statement did not lay out the terms of the deal. A major bond market rout globally has prompted several Asian companies to revise their dent sale plans. Kalyan Jewellers India Ltd. announced last month it had halted a dollar bond sale last month, and India’s local currency debt market has also seen a string of shelved deals over recent months.<br/>