Kingfisher seeks $365 million to reduce debt

Dino D'Amore
By Dino D'Amore September 1, 2010 23:46

Kingfisher seeks $365 million to reduce debt

Kingfisher Airlines hopes to raise $365 million within four months to pay off  debt. The airline hopes to raise $250 million from the sale of global depositary receipts and a further $106 million in an equity offering. Parent company United Breweries Holdings will convert loans of about INR650 into preference shares. Shares are up today by 3.55% on the news but the journey ahead is clouded at best.

Dino D'Amore
By Dino D'Amore September 1, 2010 23:46
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