Air India plans to raise up to Rs 7,000 crore through one of the largest domestic bond sales this year to repay its maturing loans and restructure stressed debt, three people with the direct knowledge of the matter said.
“The company has received an in-principle approval from the government, which will guarantee the proposed bonds,” one of the persons told ET.
The national carrier’s bonds are expected to have a maturity of 10 years. About 10 financial institutions — mostly banks — have submitted bids to arrange the proposed bond sale, which is likely to be completed by March-end, the sources said.
