National carrier Air India Ltd plans to raise up to ₹225 crore through a short-term loan from domestic lenders by 31 January to refinance an earlier loan, the airline said in a tender document on Monday. The loan will carry a sovereign guarantee and lenders will have to submit their bids by 27 January.
Proceeds of the loan, whose tenure is a year, will be utilized for refinancing earlier loans, and the airline will offer 18 of its aircraft as security, according to the document, a copy of which was reviewed by Mint.
