LATAM formalizes second tranche of DIP financing

LATAM Airlines Group presented the second tranche of its DIP (debtor-in-possession) financing proposal to the Court of the Southern District of New York, as part of the Chapter 11 process. The secon tranche amounts to US $1.3 billion that was committed by Oaktree Capital Management L.P. and its affiliates. The proposal must be reviewed and approved by the court in the coming days.

Source: The Loadstar