Citadel, United Among Lenders in $2 Billion Avianca Funding
- Latin American airline submits bankruptcy financing proposal
- Carrier looks to raise $1.2b in new money, roll-up debt
This article is for subscribers only.
The hedge fund Citadel Advisors LLC, United Airlines and a Salvadoran air mogul are among investors offering loans as part of Latin American airline Avianca Holdings SA’s $2 billion bankruptcy financing plan, according to court documents.
The companies, which were stakeholders in the carrier before it filed for Chapter 11 protection in May, would help provide about $722 million in loans. Together with a separate tranche of roughly $1.3 billion of debt, Avianca said it has commitments for $2 billion in debtor-in-possession funding.