Jet swaps $340-m floating loan with Credit Lyonnais

sunandaC

New member
Jet swaps $340-m floating loan with Credit Lyonnais
George Cherian

CREDIT Lyonnais and Jet Airways have concluded the largest interest rate swap in the country.

A total of $340m of the air tax operator’s outstanding foreign currency floating rate loans has been swapped to fixed/ floating via a structured interest rate swap spread over four years.


It will insulate Jet Airways against rising interest rates.

It will also give Jet Airways the opportunity to take advantage of falling interest rates in later years.

The swap, which has been executed in two tranches of $200m and $140m, is the largest ever derivatives transaction in the domestic market
 

rosemarry2

MP Guru
Jet swaps $340-m floating loan with Credit Lyonnais
George Cherian

CREDIT Lyonnais and Jet Airways have concluded the largest interest rate swap in the country.

A total of $340m of the air tax operator’s outstanding foreign currency floating rate loans has been swapped to fixed/ floating via a structured interest rate swap spread over four years.


It will insulate Jet Airways against rising interest rates.

It will also give Jet Airways the opportunity to take advantage of falling interest rates in later years.

The swap, which has been executed in two tranches of $200m and $140m, is the largest ever derivatives transaction in the domestic market
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