LATAM Airlines Group: LATAM Airlines Group announces successful bond issue in Chile

June 06, 2019: 01:18 PM ET

Santiago, Chile, June 6, 2019- LATAM Airlines Group S.A. ("LATAM" or "the Company") (NYSE: LTM / IPSA: LTM) Latin America's leading airline group, successfully issued a bond in Chile's capital market as part of a Dutch auction, a first for LATAM on the Santiago Stock exchange, Bolsa de Comercio de Santiago.

The transaction was achieved with attractive conditions and a risk rating of "BBB+" by Feller-Rate and Fitch for the approved line. On this occasion, it was placed under Series E for 5.0 million Unidades de Fomento (UF) over 10 years, with capital payment due on DATE (bullet) and a monthly interest payment at a placement rate of 2.73%, representing a spread of 201 basis points over the reference rate, running 67 basis points during the auction regarding the subscription rate.

The transaction was completed in a context of favorable market conditions, taking advantage of lower interest rates and high liquidity, in addition to strong interest from institutional clients. As a result, the Series E was received with surplus -demand, approximately 2.0 times greater, mainly consisting of pension funds and mutual funds among others.

Credicorp Capital and Santander were the financial advisers and placing agents for the transaction.

LATAM Airlines Group announces succesful bond issue in Chile

This announcement is distributed by West Corporation on behalf of West Corporation clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: LATAM Airlines Group via Globenewswire

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