April 3, 2012
Specialist lender and asset management firm Investec is looking to spin off its aircraft leasing business in Singapore in a business trust listing, raising between USD$600-800 million, as early as June, IFR reported.
The deal, which would be the first of its kind in Asia, is led by Bank of America Merrill Lynch, BNP Paribas and Credit Suisse.
Singapore is a major hub for both airlines and the aerospace business in Asia, which is expected to be the fastest growing aviation market in the world, due to the region's strong economic growth.
IFR said Investec's fund is likely to be more of a yield play, so will be more closely comparable with Singapore's other listed business trusts.
