Archive · 29 Sep 2025
Air India Secures $215 Million Loan to Refinance Debt
Air India borrowed $215 million from Bank of India and Standard Chartered.
This money will be used to pay off some of Air India's existing debts.
The loan has a six-year term and the interest rate is based on the Secured Overnight Financing Rate.
The money is specifically for debt related to buying six Boeing 777-300ER planes.
Bank of India acted as a lead manager for the loan for the first time in GIFT City.
The funding deal was delayed after an Air India plane crash earlier this year.
Air India raised $215 million from Bank of India and Standard Chartered.
The loan will refinance shorter-term debt from the acquisition of Boeing 777-300ER aircraft.
The six-year loan was arranged through GIFT City.
The interest rate is approximately 168 basis points over the secured overnight financing rate.
Bank of India acted as a mandated lead manager for the deal for the first time in GIFT City.
- Who
- Air India, Bank of India, Standard Chartered
- What
- Air India secured a $215 million loan.
- When
- Not specified, but the report was released after an Air India plane crash in June.
- Where
- GIFT City, India
- Why
- To refinance shorter-duration debt used to acquire six Boeing 777-300ER aircraft.
- Loan Amount
- $215 million
- Lenders
- Bank of India, Standard Chartered
- Purpose
- Refinancing debt
- Loan Term
- Six years
- Interest Rate
- 168 basis points over SOFR