LATAM Airlines Group’s $150 Million DIP Loan

Haynes and Boone advised Toesca in connection with its US$150 million Tranche C debtor-in-possession (DIP) loan to LATAM Airlines Group S.A. (“LATAM”).

LATAM, the largest air transport group in Latin America, filed for Chapter 11 protection in the Southern District of New York in May 2020. The bankruptcy court last year approved LATAM’s DIP financing proposal.

Toesca S.A. Administradora General de Fondos (“Toesca”) is an independent asset manager formed by a group of professionals with a long history working together investing in Latin American markets. Toesca manages four strategies in Latin America: Infrastructure, Private Credit, Real Estate, and Equities. This investment in the LATAM DIP was led by their Private Credit team.

Haynes and Boone, LLP team advising Toesca was led by Partners Larry Pascal and Deborah Low, and included Counsel Kourtney Lyda and Elizabeth Breazeale, Foreign Counsel César Ramirez del Ángel, and Associate Ochuko Hope.

Involved fees earner: Elizabeth Breazeale – Haynes and Boone; Ochuko Hope – Haynes and Boone; Deborah Low – Haynes and Boone; Kourtney Lyda – Haynes and Boone; Larry Pascal – Haynes and Boone; Cesar Ramírez del Ángel – Haynes and Boone;

Law Firms: Haynes and Boone;

Clients: Toesca SA Administradora General de Fondos;

Author: Martina Bellini