Avianca Holdings S.A. Files Motion for Approval by U.S. Court of Approximately $2 Billion in Debtor-in-Possession Financing

Avianca Holdings announced that it has secured commitments for debtor-in-possession (DIP) financing totaling just over US$ 2.0 billion and has filed a motion to approve the financing in the U.S. Bankruptcy Court for the Southern District of New York. The DIP financing consists of a US$ 1.27 billion Tranche A senior loan and a US$ 722 million Tranche B subordinated loan. The DIP financing includes approximately US$ 1.217 billion of new funds consisting of US$ 881 million in Tranche A and US$ 336 million in Tranche B.

Source: AP News

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