LATAM Airlines Group has closed a UF8.7 million (roughly $350 million) private placement to refinance some of its outstanding debt in Brazil.
The notes, which are denominated in Chile's Unidad de Fomento (UF) monetary units, are split between a UF2.5 million series A due in 2022 with a 5.25% interest rate, UF2.5 million series B due in 2028 at 5.75%, UF1.85 million series C due in 2022 at 5.25% and UF1.85 million series D due in 2028 at 5.75%, the carrier says in a securities filing on 17 August.
Proceeds of the unsecured debt will be used to partially repay the $500 million outstanding under LATAM's TAM Capital 3 debt that is due in 2021.
The balance will be repaid with cash, a LATAM spokeswoman told FlightGlobal in July.
LATAM declines to comment on the arrangers of the transaction.
Source: Cirium Dashboard