Jet shares up over 2 per cent

Shares of Jet Airways today rose by over 2 per cent after the company said it has concluded a five-year syndicated loan facility of USD 150 million (over Rs 950 crore).
Jet Airways' scrip ended 2.13 per cent higher at Rs 395.80 on the BSE. During the day, it rose by 5.48 per cent to Rs 408.80.
At the NSE, it was up 1.66 per cent to Rs 394.70 at close.
The loan facility was fully subscribed to by banks spread across the Middle East region, the airline said.
Mashreqbank was the sole initial mandated lead arranger and book runner for the transaction, it had said, adding the lending banks include from Dubai, Abu Dhabi, Bahrain and Doha-based financial institutions.

This syndicated loan facility will be instrumental in underpinning the airline on its progressive path, Jet Airways chief executive Cramer Ball said, adding, "we will continue to build on the strong foundation as part of our three-year turnaround plan.