August 17, 2020
Colombian airline Avianca has detailed its borrowing plans during Chapter 11 bankruptcy proceedings, saying it could get as much as $2 billion in debtor-in-possession (DIP) financing in a two-part deal.
"Avianca has now reached key agreements... with various parties that are providing substantial funding towards such DIP loans," Avianca said in a securities filing on Thursday.
The airline also said Goldman Sachs and JPMorgan are arranging the first tranche of DIP financing for as much as $1.3 bi
Colombian airline could secure up to $2 bln in financing to emerge from bankruptcy proceedings