Air India gets $475 mn bridge loan form StanChart

National carrier Air India has got a ‘bridge loan’ from Standard chartered bank of $475 million for induction of three Boeing 777 aircraft. The
interest rate that Air India will be paying on the loan is 375 basis points over libor.

This will be a short term arrangement as the management is seeking a ‘letter of comfort’ from the government of India according to an Air India official who did not want to be named. After receiving the ‘letter of comfort’ the airline will convert this short term debt into a......

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