Air India raises $215-M from StanChart, Bank of India

Tata Group-owned airliner Air India has raised USD 215 million from Bank of India and Standard Chartered Plc for refinancing. The six-year loan, raised through Gujarat International Finance-Tec City (GIFT City), is priced at about 168 basis points over the secured overnight financing rate.The proceeds will be used to refinance shorter-duration debt Air India used to acquire six Boeing 777-300ER aircraft.