Subscribe

0

  • Sign in with Email

By clicking the button, I accept the Terms of Use of the service and its Privacy Policy, as well as consent to the processing of personal data.

Don’t have an account? Signup

  • Bookmarks
  • My Profile
  • Log Out
  • NEWS
  • POLICIES
  • MSME OPPORTUNITIES
  • BANKING & FINANCE
  • TECHNOLOGY FOR SMES
  • SECTORS
  • GLOBAL
  • Investment
  • LEGAL
  • KNOWLEDGE QUEST
  • Future Ready Forum 2025
  • Ek Nayi Udaan
  • Future Ready Summit 2024
  • ADVERTISE WITH US
ad_close_btn
  • News
  • Policies
  • Banking & Finance
  • MSME Opportunities
  • Web Stories
  • InFocus
  • Technology For SMEs
  • Sectors
  • Global
  • Fashion

Powered by :

You have successfully subscribed the newsletter.
InFocus Corporate

Air India to Raise Rs 6150 Crore for Aircraft Refinancing

Air India will raise the total amount in seven tranches, which would consist of three tranches of Rs 790 crore each, three tranches of Rs 925 crore each, and one tranche of Rs 1,005 crore, according to the tender document.

author-image
SMEStreet Edit Desk
15 Nov 2020 05:41 IST

Follow Us

New Update
air india, Privatization

Air India is raising Rs 6150 crore in short-term loans to refinance foreign currency bridge loans taken to buy seven Boeing 787 and 777 aircraft.

Air India is looking to repay its aircraft debt towards six Boeing 787 Dreamliners and one Boeing 777, Aviators Buzz reported, Air India has floated a bid document for the same which says that the proceeds of the loan, which would carry a sovereign guarantee, would be utilised to refinance foreign currency bridge loans taken to buy seven Boeing 787 and 777 planes. It is also offering aircraft such as Boeing 787 and 777 as collateral for the loan, which will be repaid in a year, the report said.

Air India will raise the total amount in seven tranches, which would consist of three tranches of Rs 790 crore each, three tranches of Rs 925 crore each, and one tranche of Rs 1,005 crore, according to the tender document.

The interest rate payable by the national carrier will be linked to "MCLR/GSEC rates with reasonable spread as margin". The marginal cost of funds-based lending rate or MCLR is a tenor-linked internal benchmark. It is determined by the bank depending on the period left for the repayment of a loan. Typically, banks cannot lend at a rate lower than the MCLR of a particular maturity for all loans linked to that benchmark.

Air India Aviation
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news
logo

Related Articles
Read the Next Article
Latest Stories
Subscribe to our Newsletter! Be the first to get exclusive offers and the latest news

Latest Stories
Latest Stories
    Powered by


    Subscribe to our Newsletter!




    Powered by
    Select Language
    English

    Share this article

    If you liked this article share it with your friends.
    they will thank you later

    Facebook
    Twitter
    Whatsapp

    Copied!