IndiGo, the budget carrier, has secured $328 million financing for eight Airbus aircraft from Citi and Credendo, Belgium's export credit agency.
The aircraft include six A321s and two A320s. Under the structure, Citi acted as Sole Mandated Arranger, ECA Coordinator and Sole Lender, with the financing backed by Credendo's credit insurance.
The transaction has been executed through IndiGo's subsidiary, InterGlobe Aviation Financial Services IFSC Private Limited, and marks the first-ever Credendo-insured aviation financing globally and the first ECA-backed aircraft financing through a GIFT IFSC leasing structure.
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For IndiGo, the facility provides a competitive and diversified source of long-term funding for fleet and network growth.
IndiGo Share Price Performance
Shares of InterGlobe Aviation, the operator of IndiGo Airlines, have fallen over 4% in one month, and has declined 9% in three months. The airline stock has gained 8% in six months, while it has dropped more than 17% over the past one year.
In three years, IndiGo share price has rallied 83% and the stock has delivered 136% in five years.
At 12:45 PM, IndiGo share price was trading 0.55% lower at Rs 4,768.40 apiece on the BSE.
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