Can you tell me about LIC debt in Air India, which it recently exited?

LIC has fully exited Air India debt prior ahead of the airline being handed over to Tata Sons. LIC was holding Air India bonds to the tune of Rs.3,800 crore which it has sold at a profit of Rs.800 crore. LIC is currently prepaying debt worth Rs.12,900 crore. Air India bonds were attractive to LIC as it had offered interest rate between 9% and 10.5% and had government guarantee. This prepayment reduces the debt servicing cost of Air India.