Milbank LLP advised Apollo-managed funds, affiliates and other long-term investors in connection with a US$750 million investment grade rated financing for Mumbai International Airport Ltd. (MIAL), an Adani Portfolio company and subsidiary of Adani Airports Holdings Limited (AAHL), India’s largest private airport operator, that operates Chhatrapati Shivaji Maharaj International Airport (CSMIA), the second largest airport in India. This transaction represents one of the largest private investment grade rated deals in India’s infrastructure sector.
“This transaction is another example of Milbank’s market leading infrastructure finance practice in Asia,” said Milbank partner James Orme. “The Mumbai airport is one of the key transport hubs in India and this transaction can be a benchmark for others in the region going forward.”
“Milbank is one of the top international law firms doing India related work and we were delighted to have worked so closely with both Apollo, who led the transaction, and the Adani team, to help ensure the transaction was a success,” commented Milbank’s Asia Managing Partner David Zemans.
The Milbank team was led by partners James Orme and Terrence O’Donnell, with additional senior support from David Zemans and Giles Kennedy, and included associates Deirdre Swift, Wei Sheng Lee, Kris Singh and Eugene Tan.
Click here to read the official press release from Apollo.
Milbank has one of the strongest practices in India, having represented clients in a range of leading finance, corporate and contentious matters for over two decades. The Milbank Asia team advised on many award-winning deals including the US$1.44 billion financing of AdaniConneX’s portfolio of hyperscale data centers in India, Temasek’s acquisition of a majority stake in Manipal Hospitals, and Reliance's SACE Push US$1 billion facility. The team also advised on numerous corporate finance and capital raising transactions for GMR Hyderabad International Airport Limited, Delhi International Airport Private Limited (DIAL) and Bangalore Airport.
Each year since its inception, India Business Law Journal has ranked Milbank as one of the “top firms for international business” and the Chambers and Legal 500 guides consistently rank Milbank in the top tier of international law firms with an Indian practice. Most recently, Milbank received a four-star rating (the highest) in the 2025 Resight India 100 report, which recognizes the top international and domestic law firms doing work for clients in India or advising on India-related matters.
July 21, 2025
