LATAM Airlines Group Completes $800 Million Debt Refinancing
07.08.25
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Simpson Thacher represented the initial purchasers, led by Goldman Sachs & Co. LLC, Santander US Capital Markets LLC and others in connection with the private offering by LATAM Airlines Group S.A. (“LATAM”) of $800 million aggregate principal amount of 7.625% Senior Secured Notes due 2031 pursuant to Rule 144A and Regulation S. The net proceeds of the offering, together with cash on hand, were used to redeem in full LATAM’s 13.375% Senior Secured Notes due 2029.
LATAM is the largest airline group in South America and one of the twelve largest airline groups in the world, as measured by the number of flights operated. It is also the largest air cargo carrier in South America, as measured by cargo fleet. LATAM provides passenger transport services to 153 destinations in 27 countries and cargo services to 164 destinations in 32 countries, with an operating fleet of 348 aircraft.
The Simpson Thacher team included John C. Ericson, Juan Francisco Mendez, Jieun Lim and Sofia Elkina (Capital Markets); Jonathan Pall (Collateral); Michael Mann and Preston Irace (Tax); Paige Brinton and Christian Bond (Intellectual Property); Jeanne Annarumma, Pasco Struhs (ECEB); and Jennie Getsin (Blue Sky). Summer Associate Christian Aviles provided valuable assistance.