Jet Airways plans to raise $100 million to refinance debt

Jet Airways is planning to raise $100 million (approximately Rs 6.8 billion) in dollar-denominated debt by March 2017 to refinance its rupee-based loans. With this move, the airline aims to halve its borrowing rate to 6-7 per cent. As of March 2016, it reported a consolidated finance cost of Rs 8.85 billion, when 85 per cent of its total debt was dollar-denominated. However, as of September 30, 2016, the share of dollar debt fell to 80 per cent of its total debt of Rs 121.26 billion.