NEW DELHI : Air India Assets Holding Ltd (AIAHL), a special purpose vehicle created by the government to park a part of the national carrier’s debt, has raised ₹7,000 crore through a bond sale to refinance its debt, two people with direct knowledge of the matter said.
“The bond issue of Air India Assets Holding Ltd with a three-year tenure of ₹1,000 crore (and) with a greenshoe option of ₹6,000 crore has been fully subscribed at 6.99%,” one of the two people said, requesting anonymity. A greenshoe clause gives the underwriter the option to sell more securities than initially planned if there was demand.
“The company received bids worth ₹20,830 crore, which is the highest in the yield-based bond market in the history of the BSE. The company has decided to accept the entire issue of ₹7,000 crore,” the person added.
