The
Finance Ministry has approved the unconditional and irrevocable guarantee for
Air India’s non-convertible debentures (NCDs) worth Rs.7,400 crore.
The NCDs will have tenure of 19 years and priced at a spread
over the applicable Government Securities.
The government has capped the spread at 70 basis points. The NCD
proceeds will be used to repay the short-term working capital facility availed
itself of by Air India from the 19 banks, the airline said in a statement.
http://www.thehindu.com/todays-paper/tp-business/air-india-bonds-get-government-guarantee/article3982811.ece
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