LATAM Airlines Proposes New $2.45 Billion Financing Deal to U.S. Bankruptcy Court

LATAM Airlines has presented a new $2.45 billion financing proposal in the middle of its bankruptcy protection process in the United States, replacing a proposed debtor-in-possession loan that prompted the judge to reject the original plan earlier this month, Reuters reported. LATAM, the largest air transport company in Latin America, told the Chilean securities regulator in a letter on Wednesday night that the new debtor-in-possession loan maintained “basically” the structure presented in July. In one tranche, asset management firm Oaktree Capital Management amended the proportion of the loan it was offering to $1.125 bln from $1.3 billion originally, with a group of creditors put together by investment bank Jefferies Group providing an additional $175 million. Read more

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