National carrier Air India is likely to tie up with Citibank and public sector lender State Bank of India to raise USD 300 million from overseas market via External Commercial Borrowing (ECB) route, sources said.
Air India is mopping up these funds from the foreign market to meet its working capital requirements. ECB is a fund raising instrument which allows firms to access overseas money.
"Air India has received proposal from several interested banks and financial institutions. We are evaluating them but at this stage offer from Citibank-SBI looks quite attractive and we may tie-up with them," sources said here.
10/05/15 PTI/Deccan Herald
Air India is mopping up these funds from the foreign market to meet its working capital requirements. ECB is a fund raising instrument which allows firms to access overseas money.
"Air India has received proposal from several interested banks and financial institutions. We are evaluating them but at this stage offer from Citibank-SBI looks quite attractive and we may tie-up with them," sources said here.
10/05/15 PTI/Deccan Herald
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