SpiceJet - Carlyle Aviation Restructuring and Settlement Agreement

Significant Debt Relief: As part of the settlement agreement, Carlyle Aviation will write off $40.17 million in lease arrears.

Carlyle Aviation Converts Debt into Equity: Carlyle Aviation will convert $30 million in lease arrears into SpiceJet equity at INR 100 per share, significantly increasing its stake in the airline.

Strategic Investment in SpiceXpress: Carlyle Aviation will convert $20 million in lease arrears into compulsorily convertible debentures (CCDs) of SpiceXpress & Logistics Private Limited.

Strengthened Partnership: This strategic partnership between SpiceJet and Carlyle Aviation will bolster SpiceJet's financial position, accelerate its growth plans, and enhance its ability to compete in the Indian aviation market.

Shares of SPICEJET LTD was last trading in BSE at Rs. 63.99 as compared to the previous close of Rs. 61.46. The total number of shares traded during the day was 7670313 in over 22056 trades.

The stock hit an intraday high of Rs. 64.86 and intraday low of 62.75. The net turnover during the day was Rs. 489981203.00.

Source : Equity Bulls

Keywords

SPICEJET INE285B01017 Airlines SettlementAgreement CarlyleAviation LeaseArrears