Avianca Holdings, S.A., based in Colombia, has announced that along with United Airlines and Kingsland Holdings, has finalized documentation of Avianca´s USD 250m stakeholder loan, the company said.
The conditions of the agreement include, but are not limited to, the finalization of the debt reprofiling negotiation with its creditors and lessors.
On November 1, 2019 Avianca already met one of the conditions precedent required with the closing of the exchange offer of its USE 550m bond.
The loan conditions agreed to in October consist of a four-year loan, at a 3% interest rate. The interest will be capitalized until the loan expires, providing Avianca greater flexibility to manage its cash position.