12 04 2016

Latam Airlines Group secures $275 million, three-year senior secured revolving credit facility

Milbank represented Citi and the lenders Norton Rose Fulbright represented the issuer. Pinheiro Neto Advogados acted as Brazilian counsel for all parties and PPU Legal acted as Chilean counsel.​


LATAM Airlines Group S.A. provides passenger and cargo airline services in South America. The company, led by Enrique Cueto Plaza, Andres Osorio Hermansen, Hernan Pasman, Jerome Cadier and Ignacio Cueto Plaza,  provides domestic and international passenger services in Chile, Peru, Ecuador, Argentina, Colombia and Brazil. The revolver is secured against nine A320-family aircraft, 20 aircraft engines and over 500,000 spare parts. Citi is acting as mandated lead arranger, sole bookrunner and structuring agent. Banco Estado and Bank of America Merrill Lynch acted as lead arrangers. JP Morgan, Deutsche Bank, BNP Paribas and Morgan Stanley acted as arrangers. Deutsche Bank is Brazilian collateral agent and Wilmington Trust is collateral agent. Milbank represented Citi and the lenders as US counsel, while Norton Rose Fulbright represented the issuer as US counsel. Pinheiro Neto Advogados acted as Brazilian counsel on the deal with a team including Fernando Ruiz de Almeida Prado (Picture), Caroline Guazzelli Queiroz, Felipe Bonsenso Veneziano and Ricardo Miller Rodrigues. In Chile Philippi, Prietocarrizosa Ferrero DU & Uría acted as Chilean Counsel with Marcelo Armas Daniel Parodi and Isidora Edwards.
Norton Rose Fulbright represented Latam with a team including Sean Corrigan, Alyssa Vazquez,  David Gillespie, Kelli Sallemi and Deborah Stern.
  Involved fees earner: Fernando Ruiz De Almeida Prado - Pinheiro Neto; Caroline Guazzelli Queiroz - Pinheiro Neto; Felipe Bonsenso Veneziano - Pinheiro Neto; Ricardo Miller Rodrigues - Pinheiro Neto; Marcelo Armas - Philippi Prietocarrizosa &Uría; Daniel Parodi - Philippi Prietocarrizosa &Uría; Isidora Edwards - Philippi Prietocarrizosa &Uría; Sean Corrigan - Norton Rose Fulbright; Alyssa Marie Vazquez - Norton Rose Fulbright; Kelli Sallemi - Norton Rose Fulbright; Deborah Stern - Norton Rose Fulbright; David Gillespie - Norton Rose Fulbright;

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