Chile’s LATAM Airlines proposed a $8.19bn capital infusion plan as part of its reorganization to exit Chapter 11 bankruptcy. The plan includes issuing new equity, convertible notes and debt. Additionally, the company plans to raise $800mn via an equity rights offering, after confirming the financial plan. The restructuring plan is supported by some LATAM shareholders and creditor group Parent Ad Hoc Group. LATAM airlines previously received an offer from Azul SA to buy the company if it failed to complete its restructuring plan. Roberto Alvo, chief executive of LATAM airlines said, “While our process is not yet over, we have reached a critical milestone in the path to a stronger financial future.”
LATAM’s USD bonds were stable with its 7% 2026s trading at 91.625, yielding 8.92%
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