Friday, February 2, 2007

Air Deccan seeks $75-100 mn private equity; hires Edelweiss for PE syndication

Air Deccan is planning to raise around $75-100 mn for its expansion plans, and has reportedly approached the Reliance ADAG Group and a Delhi-based conglomerate for the same. Investment bank Edelweiss Capital has been mandated by the low-cost airline to help raise private equity. Texas Pacific Group, Carlyle Group, Standard Chartered Private Equity, Macquarie Capital, ChrysCapital, Lehman Brothers, General Atlantic and GIC of Singapore are some of the investment firms that have been sounded out. The process is expected to be completed over the next three months.

Additionally, Air Deccan is also looking to raise money by securitizing its future receivables or by issuing bonds, and is in talks with global players like International Lease and Finance Corporation (ILFC) and GE Commercial Aviation Services (GECAS).

Read the complete article in The Economic Times.

No comments: