Friday, October 11, 2019

Source says Air India SPV may raise 80 bln rupees via bonds next wk

Mumbai: Air India Assets Holdings will raise 80 bln rupees in the next week through the second tranche of government-guaranteed bonds, a source told Cogencis today. The special purpose vehicle of the airline today raised 70 bln rupees through government-guaranteed bonds maturing in 10 years, the source said.
"We received huge response at today's issue, and next week, will come with the second tranche (of government-guaranteed) bonds," the source said.
The company had plans to raise 150.64 bln rupees through government-guaranteed bonds maturing in 10 years.
Today, the company raised 70 bln rupees at a semi-annual coupon of 7.39% and the issue was oversubscribed. It received bids worth 217.36 bln rupees, over three times more than the total size. These government-serviced bonds are rated AAA(CE) by ICRA and India Ratings.
10/10/19 Bhakti Tambe/Cogencis
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