LATAM prices first prefunded Ex-Im bond at 1.87%

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LATAM Airlines group priced the aviation market's first 100% prefunded US Export Import Bank bond offering today.

The $287 million financing, which matures in 2024, carries a coupon set at 1.829%. The bond offering achieved the lowest spread since 2010.

Crédit Agricole-CIB and Goldman Sachs are joint structuring agents and book runners.

LATAM will use the funds to purchase two new Boeing 777-300ER aircraft, which are expected to be delivered on 28 August and 17 September.