SpiceJet promoter Ajay Singh looking to raise $100 mn through credit funds
SpiceJet’s promoter, Ajay Singh, is reportedly in discussions with global private credit funds to secure up to $100 million, according to a report by MoneyControl. The funds would be directed towards refinancing a portion of promoter debt and potentially inject fresh equity into the financially-strained airline.
The talks are in the early stages and are focusing on loan pricing for a potential structured credit transaction.
SpiceJet’s urgent need for cash infusion reportedly stems from legal cases and non-payment of dues, including issues with former promoters and aircraft lessors.
