June 14, 2022 |
Chile's LATAM Airlines said it has secured $3.9 billion in financing as part of its plans to exit Chapter 11 bankruptcy proceedings later this year.
The deals involve $2.25 billion in new debt and a revolving credit facility for $500 million plus $1.17 billion in debtor-in-possession (DIP) financing, the airline said in a statement.
The revolver pays either ABR plus 3% or SOFR plus 4%, while a $750 million B loan will carry a spread over ABR or SOFR to be determined at allocation, LATAM said. Tw
Chilean airline lands $3.9 bln in funding as its plans to exit Chapter 11 bankruptcy this year