LATAM draws more lenders to DIP loan

LATAM draws more lenders to DIP loan

Corporate & Sovereign Strategy Debt Loans Structured Finance Brazil Chile US Latin America

Chile's LATAM Airlines has added more lenders to a proposed $2.45 billion debtor-in-possession (DIP) loan, including a hedge fund and an investment bank from the United States, according to a revised bankruptcy plan announced on Thursday. After a US judge ruled last week that the original loan was unfair to some shareholders, LATAM said it still had commitments for up to $2.45 billion in financing with $1.3 billion in one tranche and $1.15 billion in another. In the first tranche, US asset manag

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