Announced
Completed
Financials
Sources
Tags
Cross Border
Friendly
Private
airline operation
Minority
Single Bidder
Private Equity
Philippines
Acquisition
Airlines
Completed
Synopsis
World Bank’s lending arm IFC and investment firm Indigo Partners completed their $250m investment in Cebu Pacific, a Philippine low-cost airline. Cebu Pacific’s board approved the $250m convertible bonds investment on the day of the signing. The bonds are convertible to nearly 319m common shares at a conversion price of $0.79. The transaction closing is subject to post-signing deliverables, which the parties expect to complete over the succeeding weeks.
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