SpiceJet’s $100 mln debt rejig: Carlyle Aviation to buy stakes in airline
In a move that will help reduce its debt by USD 100 million, cash-strapped SpiceJet on Monday announced that Carlyle Aviation Partners will acquire a 7.5 per cent stake in the airline by converting outstanding dues as well as snap up shareholding in the cargo business.
As it faces multiple headwinds, the no-frills carrier will also tap the Qualified Institutional Buyer (QIB) route to raise up to Rs 2,500 crore.
SpiceJet’s board has approved restructuring more than USD 100 million outstanding dues to aircraft leasing firm Carlyle Aviation Partners into equity shares and Compulsorily Convertible Debentures (CCDs).
