Digital Assets in Capital Markets

Advanced course on digital assets - assets created using a blockchain/DLT network - designed for finance professionals.

IBF-STS
8 CACS CPD Hours

15 November 2022 (Tuesday) | 9am-5pm

Aerovias de Mexico (Aeromexico) shareholders approved a capital increase of $4.2bn as part of the Mexican carrier’s restructuring plan. The increase is subject to a third-party tender offer of its current shares and is awaiting US bankruptcy court approval on January 27. The capital will come from the issuance of 682tn common shares, paid via an $828mn cash injection and a $3.44bn debt capitalization. Shareholders also agreed to issue 68.2tn new shares that will remain in the company’s treasury. Aeromexico’s biggest creditor Apollo Global Management will become its largest shareholder by swapping its debt into equity while Delta Air Lines will hold about 20% of its stock coming out of bankruptcy. Existing equity shareholders will be wiped out. Aeromexico’s stock rose 5.3% to MXN 1.96 after the announcement.

Aeromexico’s USD bonds were stable with its 7% 2025s trading at 95.837, yielding 8.46%

For the full story, click here

Show Buttons
Hide Buttons