Air India invites offer for appointing merchant bankers for its NCDS

New Delhi: Air India has invited offers for appointment of merchant bankers for issuing government- guaranteed bonds to the tune of Rs 7,400 crore to raise resources, airline sources said today.
The move to issue non-convertible debentures (NCDs) is part of the cash-strapped national carrier's financial restructuring plan (FRP) and the turnaround plan (TAP) which were approved by the Cabinet Committee on Economic Affairs in April.
The NCDs, which would be issued to banks and financial institutions to repay part of the working capital loans, are expected to have a maturity period of 19 years, the sources said, adding that the bids would have to be submitted by August 6.
13/07/12 PTI/Economic Times

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Categories: Air India Jul 2012