Banks examining options for Air India's debt recast

Mumbai: Bankers on Thursday explored various options including conversion of the Rs 18,000 crore loans to SLR as part of the debt restructuring of the ailing Air India carrier and may finalise the bailout package next week.
"We are looking at various instruments like SLR, long-term bonds and non-convertible debentures among others as part of the debt recast plan of Air India," Oriental Bank of Commerce Executive Director SC Sinha told reporters after the debt recast meeting in Mumbai.
Conversion of loans to Statutory Liquidity Ratio (SLR), which are considered as approved security for investment, will provide comfort to the lenders.
19/01/12 Press Trust of India/IBN Live

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Categories: Air India Jan 2012