Global Transportation Finance Team Recognized for Latin American Deal of the Year at Airfinance Journal Global Awards 2019
Vedder Price recently was recognized for its role in the Latin American Deal of the Year at the Airfinance Journal Global Awards. Global Transportation Finance Shareholders Jeffrey T. Veber and Christopher A. Setteducati and Bankruptcy Shareholder Michael J. Edelman represented several commercial banks and financial institutions associated with Avianca Holdings SA (Avianca) $4.5 billion debt re-profiling program, making it the largest lease and debt re-profiling program for a Latin American carrier.
According to Airfinance Journal, Avianca renegotiated over $4.5 billion of aircraft leases, secured loans and other obligations as part of its 2021 strategic plan. The transaction included an offer to exchange its $550 million senior unsecured notes due in May 2020 for new senior secured notes due in 2023, and a $325 million convertible term loan facility provided by United Airlines, Kingsland International Group and certain Latin American investors. The transaction was innovative because it combined capital markets, ECA financings, bank loans and lease obligations in a single re-profiling program.
The AirFinance Journal Global Awards celebrate the best-in-class airline and lessor financings to have closed in 2019. To read more, please click here.
Vedder Thinking | News Global Transportation Finance Team Recognized for Latin American Deal of the Year at Airfinance Journal Global Awards 2019
Press Release
July 15, 2020
Vedder Price recently was recognized for its role in the Latin American Deal of the Year at the Airfinance Journal Global Awards. Global Transportation Finance Shareholders Jeffrey T. Veber and Christopher A. Setteducati and Bankruptcy Shareholder Michael J. Edelman represented several commercial banks and financial institutions associated with Avianca Holdings SA (Avianca) $4.5 billion debt re-profiling program, making it the largest lease and debt re-profiling program for a Latin American carrier.
According to Airfinance Journal, Avianca renegotiated over $4.5 billion of aircraft leases, secured loans and other obligations as part of its 2021 strategic plan. The transaction included an offer to exchange its $550 million senior unsecured notes due in May 2020 for new senior secured notes due in 2023, and a $325 million convertible term loan facility provided by United Airlines, Kingsland International Group and certain Latin American investors. The transaction was innovative because it combined capital markets, ECA financings, bank loans and lease obligations in a single re-profiling program.
The AirFinance Journal Global Awards celebrate the best-in-class airline and lessor financings to have closed in 2019. To read more, please click here.
