With 9.7 million passengers in 2023, AdP is the eight-largest Italian airport group with Bari as the 10th largest Italian airport in 2023 in terms of passengers.
PGIM Private Capital first met with AdP in the second half of 2023. We learned about the Company’s financial needs and willingness to partner with a long-term investor to refinance existing debt lines, support near- and long-term investments, as well as future capex and acquisitions.
In March 2024, PGIM Private Capital set up a three-year, $80 million multi-currency Revolving PGIM Private Shelf Facility with an initial draw up to €25 million with a final maturity of 15 years and an average life of 10 years.
Aeroporti di Puglia SpA decided to partner with us given: i) our relationship-oriented and flexible approach, ii) the attractiveness of inaugural USPP terms, and iii) the possibility of further draws to finance capex.
We are excited to formalise our relationship with Aeroporti di Puglia SpA through this investment, and we look forward to supporting the Company in the years to come.
