Insta
Air India To Issue Bonds Worth Rs 22,000 Crore Soon; Expected To Help In Debt Clearance
Swarajya Staff
Sep 13, 2019, 02:31 PM | Updated 02:31 PM IST
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Air India Assets Holdings Ltd. (AIAHL), a special purpose vehicle of public sector air line Air India, is going to issue bonds worth Rs 22,000 crore, in an effort to clear off its deabts, reports Business Standard. The first tranche of Rs 7,000 crore will be released on 16 September.
According to a senior official, all the bonds will be rolled out in a few weeks time with different tenures. The first ones worth Rs 7,000 crore would have a tenure of three years and three months. Bonds worth Rs 15,000 crore with the duration of 10 years will be released soon.
He also informed the banks and mutual funds may take part in the first tranche of bond offering.
Air India currently has a debt of over Rs 58,000 crore, about half of which is expected to be covered through proceeds from the issuance of these AIAHL bonds.
Save & read from anywhere!
Bookmark stories for easy access on any device or the Swarajya app.
Support Swarajya's 50 Ground Reports Project & Sponsor A Story
Every general election Swarajya does a 50 ground reports project.
Aimed only at serious readers and those who appreciate the nuances of political undercurrents, the project provides a sense of India's electoral landscape. As you know, these reports are produced after considerable investment of travel, time and effort on the ground.
This time too we've kicked off the project in style and have covered over 30 constituencies already. If you're someone who appreciates such work and have enjoyed our coverage please consider sponsoring a ground report for just Rs 2999 to Rs 19,999 - it goes a long way in helping us produce more quality reportage.
You can also back this project by becoming a subscriber for as little as Rs 999 - so do click on this links and choose a plan that suits you and back us.
Click below to contribute.