Grupo Aeromexico draws second disbursement from DIP facility

Chicago, Nov. 6 – Grupo Aeromexico, SAB de CV has met the milestones necessary to receive the second disbursement of $175 million from its $1 billion senior secured superpriority multi-tranche debtor in possession facility, according to a press release on Friday.

The company had previously drawn down $100 million in a first tranche under the facility.

Further tranches of $100 million each will be made available to the company as additional conditions and milestones are met.

Approval of the facility was made final by Judge Shelley C. Chapman of the U.S. Bankruptcy Court for the Southern District of New York.

After Friday’s hearing, the court also approved the company’s settlement regarding the loan agreement secured by certain receivables between the company, Deutsche Bank Trust Co. Americas as administrative agent and the lenders which resolves potential disputes relating to the loan between the company and the lenders.

Grupo Aeromexico, a holding company for commercial aviation, is based in Mexico City. The company filed Chapter 11 on June 30 under case number 20-11563.

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