National passenger carrier Air India has invited bids from financial institutions and banks for a Rs 1,000-crore government guarantee-backed Short Term Loan (STL).
The airline has called for financial bids by June 13.
"Air India is inviting bids for Government Guaranteed INR STL totalling to Rs 1,000 crore to meet its urgent working capital requirements," the airline said in a tender document issued on June 5.
"The tenure of the loan will be for one year (renewable) from the date of availing the STL. The amount of Rs 1,000 crore will be drawn in June' 18 in one or more tranches."
"The government of India guarantee is presently valid for one year."
--IANS
rv/vd
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app