Fund Raising

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Air India raises $215 million from StanChart, Bank of India
BusinessLineยท 2025-09-30 04:02
Group 1 - Air India raised approximately $215 million from Bank of India and Standard Chartered Plc for refinancing purposes [1][2] - The six-year loan is priced at about 168 basis points over the secured overnight financing rate [1] - Proceeds from the loan will be used to refinance shorter duration debt related to the acquisition of six Boeing 777-300ER aircraft [2] Group 2 - This loan deal follows a significant aviation accident involving an Air India plane in June, which initially slowed fundraising discussions [2] - The loan marks the first instance of Bank of India acting as a mandated lead manager in a loan deal from GIFT City [3]