Latam Defines Capital Raise, Gets Rating

Latam Defines Capital Raise, Gets Rating

Brazil Chile Equity Corporate & Sovereign Strategy

The board of Chile’s Latam Airlines Group has approved a $1bn capital raise through the issue of 63.5m shares, with proceeds destined for fleet enhancement, financial development, executive compensation is also included as one of the funds’ uses. Separately, S&P has rated the airline at BB, it says. Formed after the merger of Chile’s Lan and Brazil’s Tam in June 2012, the airline is expected to see operating results improve in the coming years, alongside market conditions in Brazil, S&P notes. “

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