AI As­sets Hold­ings to raise 22k cr via bonds

The Times of India (New Delhi edition) - - Times Business -

New Delhi: Air In­dia As­sets Hold­ings (AIAHL) will is­sue bonds worth Rs 22,000 crore in the com­ing weeks, with the first tranche worth Rs 7,000 crore set to hit the mar­ket on Septem­ber 16, ac­cord­ing to a senior of­fi­cial.

AIAHL — a spe­cial pur­pose ve­hi­cle of na­tional car­rier Air In­dia — is plan­ning to raise the amount by is­su­ing bonds with dif­fer­ent tenures.

As part of ef­forts to clean up the bal­ance sheet of Air In­dia, which has a debt burden of more than Rs 58,000 crore, lit­tle over half of the amount is to be re­paid by way of pro­ceeds from the is­suance of bonds by AIAHL.

The senior of­fi­cial said that AIAHL would is­sue bonds worth Rs 7,000 crore on Septem­ber 16. Th­ese bonds would have a ten­ure of three years and three months. Banks and mu­tual funds are ex­pected to par­tic­i­pate in the first tranche of the bond of­fer­ing, the of­fi­cial added.

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