New Delhi: State-run carrier Air India has invited offers from banks to raise up to $800 million via external commercial borrowing and bridge financing, two documents posted on the company's website showed.
A bridge financing of up to $500 million will be used to fund its purchases of four Boeing Dreamliners, while the ailing national carrier plans to raise another $300 million through overseas debt.
The documents, posted on Air India's website on Monday, showed that the bridge loan will not be covered by the federal guarantee, but the aircrafts or other equivalent means can be used as security.
08/05/12 Reuters/Economic Times
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