Industrials, Automotive Nov 27, 2021 01:28 PM (GMT+8) · EqualOcean
Financial Associated Press, November 27 - Latin American Airlines Group SA reached an agreement with its major shareholders, paving the way for the Chilean airline to reduce its debt and get rid of bankruptcy under the leadership of its new owner. Court documents show that the largest airline in Latin America plans to raise about $5 billion by issuing shares and convertible bonds to existing shareholders and creditors to get rid of bankruptcy protection. Ultimately, the deal allowed a group of creditors led by sixthstreet partners, sculptor capital and svpgglobal to control the company.