LATAM moves closer to reorganization

LATAM moves closer to reorganization

Corporate & Sovereign Strategy Bonds Debt Fixed Income Equity Latin America Chile

Chile's LATAM Airlines has entered into confidentiality agreements with several unnamed creditors as part of its efforts to emerge from bankruptcy, it said in a securities filing on Wednesday. The preliminary deal moves the airline closer to a reorganization plan aimed at reducing debt and returning to growth and profitability. The plan calls for issuing $800 million in shares and up to $6.89 billion in bonds.  "LATAM continues to focus on ensuring that its exit strategy allows it to emerge with

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