Zurich Airport International and UP Govt welcomes

 Zurich Airport International and UP Govt welcomes
Noida International Airport as the official airport name, logo unveiled

 Zurich Airport International and UP government have finalised the nomenclature of the greenfield airport at Jewar as – Noida International Airport. The name and logo were finalised in the presence of Honourable Chief Minister of Uttar Pradesh -Shri Yogi Adityanath.

The brand logo is a symbol that shows a Sarus Crane - the state bird of UP - in flight. The symbol is created using thin uniform converging lines with a blue-green colour gradient fill symbolising technology and connectivity on one hand and eco-consciousness on the other. The upward movement denotes positivity and upliftment of experience. The logo effectively combines technology with emotions while lending sophistication and elegance. The logo echoes Noida International Airport’s vision to be India’s leading airport in terms of quality, efficiency, technology and a role model for sustainable infrastructure and operations, delivering an exemplary experience to all customer segments.

Mr. Christoph Schnellmann, Chief Executive Officer, Yamuna International Airport Private Limited said, “We are pleased to finalise Noida International Airport as the official brand name for the upcoming airport at Jewar. The logo is the true reflection of building India’s leading airport which is an amalgamation of efficiency, technology and a sustainable and eco-friendly infrastructure, while keeping a symbol of Uttar Pradesh at the core. We would like to thank the Government of Uttar Pradesh for their support in the process, as this will help us build the brand identity and recall value of the airport across customers and stakeholders”.

In November last year, Zurich Airport International AG (ZAIA) won the contract to build and operate the airport in Greater Noida for a period of 40 years, which includes construction period of four years in the first phase. ZAIA received the security clearance from the Union ministry of home affairs to develop the Noida International Airport at Jewar in May this year. Last week, a consortium of Nordic, Grimshaw, Haptic and STUP has been selected as the architect team to design the airport.

Uttar Pradesh Govt’s first 200 Cr Lucknow

 Uttar Pradesh Govt’s first 200 Cr Lucknow
Muni Bond lists on BSE

The Lucknow Municipal Corporation which raised 200 crs via Municipal Bonds on private placement basis using the BSE bond platform listed on the exchange today. It received 21 bids and subscribed by 4.5 times.  Corporation received bids for Issue size of Rs 200 Crs within 60 seconds of the issue opening, which opened for subscription on 13th November 2020.  It’s one of the 8 cities in India that have capitalized on the new guidelines to fund the AMRUT and Smart Cities Mission to raise an aggregate of 3690 crs as per Govt released data.

The capital raised is proposed to partially fund the Amrut projects and other infrastructure projects which had a earmarked requirement of INR 3,109.5 mn. The AA Stable and AA(CE) Stable rated bonds by India and Brickwork Ratings have a tenure of 10 years and states that the principal amount will be paid in 7 instalments from 4th and 10th year.

The coupon rate of the taxable bond was fixed at 8.5% per annum. The actual cost of borrowing will be approx. 7.25% after considering Rs 26 Crs incentive from Government of India for raising Municipal Bonds.

Speaking on this momentous occasion, Shri Yogi Adityanath, Chief Minister of Uttar Pradesh stated “It is a matter of pride for UP that the Lucknow Municipal Corporation has raised Rs 200 crore through its bond issue which got listed on BSE today. It is the trust of the investors which UP has earned during last three and a half years of governance. It will augment our effort to improve infrastructure in urban areas and it shows the improvement in the Industrial climate of the state and the trust the investors have reposed in the state machinery”.

On the occasion of the listing of the bonds, Ashish kumar Chauhan, MD & CEO of Bombay Stock Stated “ I would like to congratulate Lucknow Municipal Corporation for successfully raising Rs. 200 Crore by issuing Municipal Bond on BSE Bond platform. The order book was filled more than double in a matter of few minutes establishes Lucknow Municipal Corporation as a credible entity in the Indian bond market. BSE firmly believes that the Indian bond market has a potential for substantial growth. BSE Bond platform has helped bring in transparency and efficiency in price discovery for private placement of debt securities and the platform enables to subscribe seamlessly.”

On the Global Market of Municipal Bonds and it’s opportunities in India - Mr A.K. Mittal, MD & CEO, A. K. Capital stated “A big congratulation to Lucknow Municipal Corporation for raising Rs.200 crores at historical low rates. I feel proud to say that A.K. Capital has been a leading Merchant Banker in the Municipal Bonds space in terms of volumes. Lucknow Municipal Corporation bonds are backed by strong structured payment mechanism making it an secured investment with an attractive return for the investors. Indian Municipal Bond market is at a very nascent stage compared to the US Municipal Bond market but given the rapid pace of urbanisation, it is going to play a pivotal role in shaping the urban infrastructure sector in the country.”

The Merchant bankers to the bond issue were A.K. Capital Services Ltd and HDFC Bank Ltd.