Air India Assets Holdings Ltd, a special purpose vehicle that holds debt of the national carrier, is set to finalise bankers for its 220.64-bln-rupee bond issue, moving a step closer with its fund-raising plans, according to sources.
The company on Wednesday held fee bidding for merchant banks to participate in the bond issue.
"Around 20 merchant bankers expressed interest to arrange the issue. 16 bankers may get selected. However, we are awaiting an official confirmation from the company," a merchant banker closed to the development said.
Air India Assets Holdings is planning to raise 70 bln rupees through the issuance of government-serviced bonds maturing in three years. The principal and interest payments on such bonds are serviced by the government, though the issue shows as debt on the entity's books.
The company also plans to raise 150.64 bln rupees through bonds maturing in 10 years, which will carry a government guarantee.
04/07/19 Bhakti Tambe/Cogencis
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The company on Wednesday held fee bidding for merchant banks to participate in the bond issue.
"Around 20 merchant bankers expressed interest to arrange the issue. 16 bankers may get selected. However, we are awaiting an official confirmation from the company," a merchant banker closed to the development said.
Air India Assets Holdings is planning to raise 70 bln rupees through the issuance of government-serviced bonds maturing in three years. The principal and interest payments on such bonds are serviced by the government, though the issue shows as debt on the entity's books.
The company also plans to raise 150.64 bln rupees through bonds maturing in 10 years, which will carry a government guarantee.
04/07/19 Bhakti Tambe/Cogencis
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