Air India aims to sell Rs 7400 crore of bonds: Document

Ailing national carrier Air India has invited banks to bid for underwriting roles in a sale of Rs 7400 crore government-guaranteed bonds, a document seen by Reuters showed.
The firm is looking to issue bonds with a maturity of 19 years in a private placement. The debt will be re-payable in five equal installments starting in the 15th year from the date of allotment, the document showed.
Air India is looking to pay a coupon equivalent to a spread over a government security with equivalent maturity, but will be subject to an overall cap of 9.50% per year, according to the document.
12/07/12 Reuters/Moneycontrol

To Read the News in full at Source, Click the Headline

Categories: Air India Jul 2012