21 days ago
Times of India
NEW DELHI: In a relief to SpiceJet , its biggest lessor Carlyle Aviation Partner has decided to convert $100-million dues to the airline into equity shares and compulsorily convertible debentures (CCDs). The cargo business transfer will be discharged by SXPL by issuing securities in the combination of equity shares and CCDs for an aggregate amount of Rs 2,556 crore. Following this transaction, Carlyle Aviation Partner will have over 7.5% equity stake in SpiceJet. "Additionally, SpiceJet will transfer CCDs of SpiceXpress and Logistics Pvt Ltd (SXPL), held by SpiceJet aggregating to $65.5 million, subject to regulatory approvals. The CCDs will be converted into equity shares of SpiceXpress at an anticipated future valuation of $1.5 billion or Rs 12,422 crore," the airline said.
Continue reading...
