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Latam Airlines requests $300 million DIP facility disbursement
By Sarah Lizee
Olympia, Wash., March 9 – Latam Airlines Group, SA has requested a $300 million disbursement under its $3.3 billion debtor-in-possession financing, according to a 6-K filing with the Securities and Exchange Commission.
The disbursement would consist of $38.55 million by tranche A lenders, $227.34 million by tranche B lenders and $34.1 million by tranche C lenders.
Latam said it is seeking the disbursement due to the extension of the health and travel restrictions imposed by authorities, as well as the analysis of the liquidity projection.
On Oct. 8, 2020, June 9, 2021, Nov. 10 and Dec. 23, the company drew $1.15 billion, $500 million, $200 million and $100 million, respectively, under the DIP facility.
Latam Airlines is a Santiago, Chile-based airline. The company filed bankruptcy on May 25, 2020 under Chapter 11 case number 20-11254.
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