June 10, 2019 |
Airline gets $199m from inflation-linked bonds, led by Credicorp and Santander
Latam Airlines said it has sold UF5m ($199m) in 10-year bonds in the Chilean market, led by Credicorp Capital and Santander.
The airline priced the bullet bonds at 2.73% for a spread of 201bp over the local reference rate. The spread came down by 67bp during the Dutch auction, Latam said in a statement.
The order books were roughly two times oversubscribed, the airline added.
Latam said it will use half the money to pay off debt, while 30% will go to funding investments and 20% will go to general corporate purposes.