Air India takes off for $69m syndication

Air India
By Shruti Chaturvedi
25 Oct 2016

Air India is tapping the syndicated loan market to refinance a $69.065m aircraft purchase facility. The carrier, which reported its first operating profit in a decade in the 2016 fiscal year, is relying on a guarantee from the Indian government to reel in demand.

Standard Chartered is the sole mandated lead arranger and bookrunner of the five year loan, according to a source. The lead sent invitations to banks on October 21, offering three titles for participation.

MLAs committing a minimum of $25m earn a 100bp fee for 221bp all-in, lead arrangers ...

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