Citi and Credendo close $328 million IndiGo jet financing
In short
Citi and Credendo closed a $328 million deal for IndiGo to buy eight Airbus jets: six A321s and two A320s. The reports say it is the first Credendo-insured aviation financing in the world and the first such deal through GIFT IFSC.
This matters for IndiGo’s fleet plan and for aviation finance in India, but the report does not say when the planes will be delivered or the full terms of the deal.
What the reporting says
Citi and Credendo closed a $328 million financing deal for IndiGo to buy eight Airbus narrow-body jets, including six A321s and two A320s. The transaction is described as the world’s first aviation financing insured by Credendo and the first ECA-backed aircraft financing structured through GIFT IFSC. The reporting does not state delivery timing, loan tenor, or whether the planes have already been delivered.
Why it matters
Citi and Credendo closed a $328 million financing package for IndiGo to acquire eight Airbus aircraft, including six A321s and two A320s. Citi served as sole mandated arranger, ECA coordinator and sole lender, while Credendo provided credit insurance. The deal is described as the first Credendo-insured aviation financing globally and the first ECA-backed aircraft financing through GIFT IFSC. Timing of delivery and other loan terms were not stated.