Airline Sees Strong Bid for ABS

Airline Sees Strong Bid for ABS

Chile Bonds Structured Finance

Chile’s Latam Airlines received $2.7bn demand for a $450m securitization of airline ticket payment flows, according to people familiar with the transaction. The 2020 ABS backed by USD and CAD-denominated receivables from ticket and cargo sales in the US and Canada priced at par with a 6.00% coupon, tight to 6.25%-area guidance and earlier mid-6% talk. The bond traded up 0.50-1.40 points Monday afternoon, according to a trader. Comping the BB+/BBB minus credit was difficult, though leads were sai

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