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Bond Market News
LATAM Airlines to Raise $750mn Leveraged Loan to Exit Bankruptcy
September 27, 2022
LATAM Airlines is to raise $750mn via a leveraged loan from a group of banks led by Goldman Sachs. The transaction is expected to help the airlines exit bankruptcy. The term loan will be used to repay existing debtor-in-possession facilities and will also be used for general corporate purposes. In June, a US court approved its bankruptcy restructuring plan under Chapter 11 with a fresh $5.4bn capital raise to guide them out of their two-year long pandemic-driven bankruptcy.
LATAM’s 7% bonds due in 2026s are higher by 0.4 points and are currently trading at 99.12 yielding at 6.34%.
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