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Bond Market News
Azul Reaches Deal with Unsecured Creditors
November 3, 2025
Brazilian airline Azul has reached a major settlement with its unsecured creditors, advancing the airline’s effort to stabilize its financial position. This marks a major step forward in its ongoing Chapter 11 financial restructuring process. The key terms of the settlement grants creditors classified as “General Unsecured Creditors (GUCs)” the option to receive one of the following, on a pro-rata basis: (a) a share of up to $20mn (b) an interest in a newly established trust, the GUC Trust for the benefit of unsecured creditors. The agreement also included the establishment of a convenience class under the Plan, which typically allows smaller creditors to be paid quickly and in full or with a higher recovery rate.
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