To participate in stake sale process, IFC may underwrite Air India debt

Rs 333-bn debt on Air India's books has upset many potential bidders

International Finance Corporation (IFC) has evinced interest in the sale process of government-owned Air India (AI). 

The World Bank’s private investment arm is assessing the potential investment opportunity and seems open to the burden of agreeing to underwrite the entire debt amount for the successful bidder.

“IFC has had rounds of discussion with transaction advisor EY for the deal and have said they would explore the opportunity to work with a successful bidder by underwriting the debt amount,” said a person aware of the developments.

The Union government has called for bids to sell 76 per cent in AI, along