Cebu Pacific raises $250m from convertible bonds
Cebu Pacific has signed an agreement with three international financial institutions for the private placement of $250m in convertible bonds, with the transaction expected to complete in the following weeks. The Philippine low-cost carrier disclosed that it signed the agreement on 16 April with the World Bank’s lending arm, the International Finance Corporation (IFC), the IFC Emerging Asia Fund and Indigo Philippines, an affiliate of US-based private equity firm Indigo Partners, it stated in a filing to the Philippine stock exchange today. The IFC Emerging Asia Fund is a $693m private equity fund managed by the IFC Asset Management Company. Indigo Partners owns stakes in airlines including Wizz Air, Frontier Airlines, Volaris and JetSmart. Cebu Pacific’s board approved the $250m investment on the day of the signing.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-04-19/unaligned/cebu-pacific-raises-250m-from-convertible-bonds
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Cebu Pacific raises $250m from convertible bonds
Cebu Pacific has signed an agreement with three international financial institutions for the private placement of $250m in convertible bonds, with the transaction expected to complete in the following weeks. The Philippine low-cost carrier disclosed that it signed the agreement on 16 April with the World Bank’s lending arm, the International Finance Corporation (IFC), the IFC Emerging Asia Fund and Indigo Philippines, an affiliate of US-based private equity firm Indigo Partners, it stated in a filing to the Philippine stock exchange today. The IFC Emerging Asia Fund is a $693m private equity fund managed by the IFC Asset Management Company. Indigo Partners owns stakes in airlines including Wizz Air, Frontier Airlines, Volaris and JetSmart. Cebu Pacific’s board approved the $250m investment on the day of the signing.<br/>
