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LATAM airlines secures up to US$750 million in funding during receivership

RIO DE JANEIRO, BRAZIL - The Latam Airlines group on Wednesday, September 29, announced that it has secured a credit line of up to US$750 million in a new round of DIP (debtor in place) financing. This is a type of financing for companies undergoing judicial receivership.

The company filed for bankruptcy in the United States (Chapter 11, a kind of judicial receivership) in May 2020, followed two months later by its subsidiary, Latam Brasil.

The lenders for this stage (tranche B) are Oaktree Capital Management, L.P., Apollo Management Holdings, and a number of investment funds.

The airline says . . .

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