Air India bond issue gets conditional cover

Victoria
By Victoria September 26, 2012 14:15

Air India bond issue gets conditional cover

The India finance ministry has provided a sovereign guarantee to the bond issue of National Aviation Company (Nacil), which flies under the Air India brand. But it comes with string attached. The guarantee to make good the liability will only be valid if the airline meets the specified parameters. Those parameters were not disclosed but a source said that if they are met the airline would not default on its loan making the guarantee effectively worthless.

Victoria
By Victoria September 26, 2012 14:15
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