July 23, 2021
Colombian airline Avianca has asked a US bankruptcy court for permission to replace a debtor-in-possession (DIP) loan with $1.6 billion in long-term financing to emerge from Chapter 11 proceedings, according to a securities filing on Thursday.
The new financing is enough to refinance $1.4 billion in DIP obligations with $220 million left over. It involves one tranche for $1.05 billion from many of the existing DIP lenders and second tranche for $550 million from new lenders, the Bogotá-based air
Colombian airline asks court for permission to replace a DIP loan with $1.6 bln in long-term financing