Air India Assets Holding eyes Rs 7,000 crore via NCDs
Air India Assets Holding (AIAHL), a special purpose vehicle formed by the government of India to acquire the non-core assets of Air India (AIL) and its subsidiaries among other things, is set to hit the non-convertible debentures (NCD) market on Thursday to raise upto Rs. 7,000 crore through 10-year paper, bond dealers said.
The proceeds of the NCDs will be used by AIAHL to refinance the loans availed by AIL. The issue will be open for bids on Thursday.
AIAHL was set up with the objective of acquiring the non-core assets of AIL, its subsidiaries, certain immovable properties and working capital loans and rights acquired amongst other objects.
