LATAM sources commercial debt for eight A320s

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LATAM Airlines Group has mandated a syndicate of banks to arrange commercial debt facilities on eight Airbus A320s scheduled for delivery between July and December this year.

BNP Paribas and the Commonwealth Bank of Australia, as structuring agents, and, together with the Development Bank of Japan and NordLB, were mandated joint lead arrangers with each bank funding two aircraft under the facility.

The transaction represents the first time that LATAM taps the commercial debt market for funding of its Airbus fleet.

According to Flightglobal's Ascend online database, LAN Airlines and TAM Linhas Aereas will receive two A320s each this month.