State-owned carrier Indian has raised a loan of $500 mn (Rs. 2250 crores) from Germany-based KfW IPEX-Bank to finance the acquisition of 43 Airbus aircrafts. The airline has commissioned the bank to finance the first batch of 10 aircrafts. Repayment tenure of the loan is 12 years. Indian had placed an order for the purchase of 43 Airbus aircraft last year, the first of which was delivered in October 2006. The public sector airline will use these aircraft to extend its network beyond south-east Asia and the Gulf region.
The KfW bank has also signed for a 50:50 joint underwriting agreement with the Germany-based HSH Nordbank. Subsequent syndication in the international bank market is envisaged by the underwriters. The KfW bank specialises in financing of complex transport and infrastructure investments.
Read more in the article in The Economic Times.
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