LATAM’s $600 Million Bond Offering
February 11, 2019
Cleary Gottlieb represented the initial purchasers Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., and Santander Investment Securities Inc. in the debt offering of $600 million 7% senior notes due 2026 issued and sold by LATAM Finance Ltd., a finance subsidiary of LATAM Airlines Group S.A. (LATAM), and guaranteed by LATAM.
The offering was conducted as a private placement under Rule 144A of the Securities Act of 1933 and outside of the United States in reliance on Regulation S. The transaction priced on February 4, 2019, and closed on February 11, 2019. The proceeds of the offering will be used for general corporate purposes.
LATAM is Latin America’s leading airline group with one of the largest route networks in the world, offering air services to approximately 144 destinations in 27 countries and cargo services to approximately 152 destinations in 32 countries, with an operating fleet of 314 aircraft as of September 30, 2018, and multiple bilateral airline alliances.