Go to deals
Other Industries

LATAM Airlines has completed its DIP financing

LATAM Airlines has completed a DIP financing during its Chapter 11 due to the COVID-19 crisis.

LATAM is South America’s leading airline and one of the world’s largest groups, carrying 74 million passengers in 2019. LATAM and its affiliates maintain the largest market share position in Chile and Peru and the second-largest across Brazil, Ecuador, Colombia and Argentina. Additionally, LATAM ranks first in international market share within South America and between South America and Asia Pacific, second between South America and North America, and third between South America and Europe. It is also the largest cargo business in South America, which remained resilient due to the pandemic.

Oaklins’ team in Chile structured a passive binding offer complementary to international bids of US$310 million for Tranche A. The company decided to give minority shareholders the option to participate in the process of Tranche C. The Oaklins team created a unique fund structure in which minority shareholders and local bondholders of LATAM could participate in US$150 million. The fund was then transferred to Toesca in order to avoid potential conflicts of interest. The team auctioned the fund in the local market through a public process in which minority shareholders had priority to subscribe and local bondholders could participate without priority.

Talk to the deal team

Raimundo Silva

Partner
Santiago, Chile
Oaklins LarrainVial

Felipe Porzio

Managing Partner
Santiago, Chile
Oaklins LarrainVial

Related deals

Stones Infra Projects has raised debt finance
Consumer & Retail

Stones Infra Projects has raised debt finance

This transaction marked a successful debt raise to fund Oleander Farms’ growth. Strategically located in Karjat between Mumbai and Pune, this five-star resort caters to luxury travelers, MICE (meetings, incentives, conferences and exhibitions), weddings and large-scale events. The rising demand for additional room inventory to host sizable gatherings, along with the scarcity of large-format resorts in the region, were key drivers behind raising capital to accelerate expansion.

Learn more
Manolete Partners plc has completed a successful debt refinancing
Business Support Services | Financial Services

Manolete Partners plc has completed a successful debt refinancing

Manolete Partners plc has signed a new revolving credit facility (RCF) with its existing provider, HSBC. The new RCF provides Manolete with the same level of facility as the previous arrangement, at US$22.6 million (£17.5 million), but with a reduced margin and lower non-utilization fee. The facility has a term of 3.25 years, with the option to extend for an additional year on the same terms.

Learn more
Transcon Developers Private Limited has raised structured debt finance
Real Estate

Transcon Developers Private Limited has raised structured debt finance

The transaction is a landmark resolution in the distressed real estate sector, involving a structured solution of US$64.6 million (INR5.5 billion) for a leading real estate developer in the Mumbai Metropolitan Region (MMR). The transaction was backed by a global special situations investor. The project had a total debt carrying value of approximately US$76.3 million (INR650 crore), of which US$29.4 million (INR250 crore) was deemed unsustainable.

Learn more