Air India to sell bonds to raise funding for aircraft

Air India parent, the National Aviation Company of India Ltd (Nacil), reportedly announced plans to sell USD174.7 million in 10-year non-convertible debentures or Rupee bonds, with interest paid biannually, to fund the acquisition of aircraft (Live Mint, 21-Mar-2010). The sale would be divided into two portions, the first of USD153.8 million in Nacil bonds and the second of USD20.9 million in Air India Charters Ltd bonds, the parent company of Air India Express.