Air India seeks Rs 1,000 cr short-term loan
Thursday - June 7, 2018 10:24 pm ,
Category : BUSINESS
Air India seeks Rs 1,000 cr short-term loan
New Delhi June 7 (IANS) National passenger carrier Air India has invited bids from financial institutions and banks for a Rs 1 000-crore government guarantee-backed Short Term Loan (STL).
The airline has called for financial bids by June 13.
"Air India is inviting bids for Government Guaranteed INR STL totalling to Rs 1 000 crore to meet its urgent working capital requirements " the airline said in a tender document issued on June 5.
"The tenure of the loan will be for one year (renewable) from the date of availing the STL. The amount of Rs 1 000 crore will be drawn in June 18 in one or more tranches."
"The government of India guarantee is presently valid for one year."
--IANS rv/vd
The airline has called for financial bids by June 13.
"Air India is inviting bids for Government Guaranteed INR STL totalling to Rs 1 000 crore to meet its urgent working capital requirements " the airline said in a tender document issued on June 5.
"The tenure of the loan will be for one year (renewable) from the date of availing the STL. The amount of Rs 1 000 crore will be drawn in June 18 in one or more tranches."
"The government of India guarantee is presently valid for one year."
--IANS rv/vd
