LATAM Airlines Group: LATAM Airlines Group announces successful bond issue in Chile
June 06 2019 - 1:15PM
Santiago, Chile, June 6, 2019- LATAM Airlines Group
S.A. ("LATAM" or "the Company") (NYSE: LTM / IPSA: LTM) Latin
America's leading airline group, successfully issued a bond in
Chile's capital market as part of a Dutch
auction, a first for LATAM on the Santiago Stock exchange,
Bolsa de Comercio de Santiago.
The transaction was achieved with
attractive conditions and a risk rating of "BBB+" by Feller-Rate
and Fitch for the approved line. On this occasion, it was placed
under Series E for 5.0 million Unidades de Fomento (UF) over 10
years, with capital payment due on DATE (bullet) and a monthly
interest payment at a placement rate of 2.73%, representing a
spread of 201 basis points over the reference rate, running 67
basis points during the auction regarding the subscription
rate.
The transaction was completed in a
context of favorable market conditions, taking advantage of lower
interest rates and high liquidity, in addition to strong interest
from institutional clients. As a result, the Series E was received
with surplus -demand, approximately 2.0 times greater, mainly
consisting of pension funds and mutual funds among others.
Credicorp Capital and Santander
were the financial advisers and placing agents for the
transaction.
LATAM Airlines Group announces
succesful bond issue in Chile
This
announcement is distributed by West Corporation on behalf of West
Corporation clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the
information contained therein.
Source: LATAM Airlines Group via Globenewswire
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