April 16, 2021
Colombian airline Avianca could sell new shares to raise money to pay off debt and also convert some debt into equity as part of its plans to emerge from bankruptcy before the end of the year, it said in a securities filing on Wednesday.
Avianca secured $2 billion in debtor-in-possession (DIP) financing as part of the Chapter 11 proceedings approved by a US court in October last year. Now it intends to turn $900 million of the debt into equity and raise funds, possibly with a share sale, for the
Colombian airline also plans to convert debt into equity and emerge from bankruptcy this year