LATAM Airlines seeks extension of deadline for restructuring plan

LATAM Airlines Group said that it had sought to extend the deadline to present its restructuring plan as part of the bankruptcy protection process initiated in 2020 until September. LATAM filed for bankruptcy protection in the United States in May of last year, hammered by the world travel crisis generated by COVID-19. A judge had previously ordered the company deliver its restructuring plan by the end of June, and the company has said it hopes to wrap up the process in 2021.

Santander Chile returns to the Swiss market with a successful transaction of $167 mn

Santander Chile goes back to international markets and successfully issues CHF 150 million ($167 million) Senior Notes due in 2027, with a spread of 62 basis points above the Mid-Swap, which is equivalent to a coupon of 0.33%. The transaction was carried out with the advisory of Credit Suisse AG and Commerzbank AG. This signifies a return of the Bank to the international public debt market since January 2020 and is the first operation of Santander Chile in Switzerland since August 2019.

Chile extends economic aid to families to September

President Piñera approved a law to give families the economic aid to alleviate the impact of the pandemic until September. This will reach 100% of those registered in the Social Registry of Households (RSH) and will benefit 15.1 million people. A one-person household will be paid $177,000, a 3-person household will receive $400,000 and a 4-person household will get $500,000. This is from June to August. In September, beneficiaries will receive 50% of the amount.

Chile proposes a high seas MPA on the Salas and Gomez and Nazca ridges

With more than 41% of its waters already covered by marine protected areas (MPAs), Chile has proposed creating a high seas MPA on the Salas and Gomez and Nazca ridges. The idea was introduced by President Sebastián Piñera at the virtual climate summit held by US President Joe Biden in April. Piñera said “it’s not enough” to protect only national waters, especially considering the global call to protect 30 percent of the ocean by 2030.

Statkraft secures environment approval for wind farm transmission lines in Chile

Statkraft announced that its substation and transmission line project to connect three wind farms in Chile received approval from the O’Higgins region’s environmental agency. Statkraft Chile said it would start construction of three wind power projects totalling 102 MW in the second half of 2021. The company acquired the wind portfolio from Spain’s Torsa Renovables SL. The portfolio consists of the 30-MW Cardonal, the 24.15-MW Manantiales and the 48.3-MW Cerrillos schemes, and is referred to as the Torsa project.