Avianca submits bankruptcy plan

Avianca submits bankruptcy plan

Debt Bonds Loans Corporate & Sovereign Strategy Regulation Colombia Andean US Coronavirus

Colombian airline Avianca said it submitted a $2 billion bankruptcy financing plan that included $1.22 billion in fresh funds from new investors and existing creditors. The debtor-in-possession financing involves $1.27 billion in one tranche with $880 million in new funds, including $590 million from new institutional investors and $290 million from holders of Avianca's 9% 2023 notes, the airline said in a statement on Tuesday. The financing also has a convertible loan for $722 million, Avianca

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