Thursday, June 24, 2021

CEB secures $250M from convertible bonds

CEBU Air Inc. (CEB) has taken another big step towards securing its future as a key low-cost provider of domestic and international travel after raising fresh funds from the International Finance Corp. (IFC), the IFC Emerging Asia Fund and Indigo Philippines LLC, an affiliate of Indigo Partners LLC.

IFC, the IFC Emerging Asia Fund, a private equity fund managed by the IFC Asset Management Company and Indigo Partners, a private equity firm focused on worldwide investments in air transportation, have invested US$250 million in CEB in the form of convertible bonds.

The investment will provide CEB with a longer liquidity runway to help the company withstand the effects of the pandemic until economic activity and travel demand recover. (PR)


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