Latam Airlines Group announces closing of senior secured revolving credit facility

LATAM Airlines Group closed a 3-year senior secured revolving credit facility (“RCF” or, the “Facility”) in the amount of US$275m. This transaction is in line with the Company’s focus on maintaining adequate levels of liquidity considering the current volatile market conditions. The use of proceeds will be for general corporate purposes and to boost the Company’s cash position. The Facility is expected to increase by an incremental US$75m in April 2016. The RCF is secured by spare parts, engines, and aircraft.