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Air India Assets Holdings' second bond issue oversubscribed
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SME Times News Bureau | 10 Oct, 2019
Air India on Thursday said that the second Bond issue of the special
purpose vehicle (SPV) Air India Assets Holding Ltd (AIAHL) has been
fully subscribed, a senior Air India official said.
The 10-year
tenure bonds of AIAHL worth Rs 1,000 crore with a "green shoe" option of
Rs 6,000 crore was fully subscribed at the rate of 7.39 per cent.
The
official said that the company received bids worth Rs 21,736 crore and
has decided to accept the entire issue of Rs 7,000 crore.
The
special purpose vehicle of Air India for transferring part of its debt
and assets, had earlier raised another tranche of Rs 7,000 crore through
a bonds issue.
The bond issues will help disinvestment-bound Air India pare away some of its debt.
In
an earlier decision, the government had decided to transfer debt of Rs
29,464 crore, along with other non-core assets, to the newly-created
AIAHL to attract bidder interest for the carrier.
Air India has a
total debt of about Rs 60,000 crore and nearly half of it is to be
repaid by the proceeds from issue of bonds by AIAHL.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
| Japanese
Yen |
58.85 |
56.85 |
| As on 22 Oct, 2019 |
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