A Haynes and Boone, LLP team led by Partner Larry Pascal, chair of Haynes and Boone’s Americas Practice Group and co-chair of the International Practice Group, and Deborah Low, finance partner in the New York office of the firm, represented Toesca S.A. Administradora General de Fondos (“Toesca”), a Chilean asset management firm, in connection with its US$150 million Tranche C debtor-in-possession (DIP) loan to LATAM Airlines Group S.A. (“LATAM”).
LATAM filed for Chapter 11 protection in the Southern District of New York in May 2020. The bankruptcy court last year approved LATAM’s DIP financing proposal.
Other Haynes and Boone attorneys advising on the project included Counsel Kourtney Lyda and Elizabeth Breazeale, Foreign Counsel César Ramirez del Ángel, and Associate Ochuko Hope.
Christian Schiessler and Alvaro Caviedes of Jara del Favero Abogados in Santiago, Chile acted as Chilean counsel on the matter.
Toesca is an independent asset manager formed by a group of professionals with a long history working together investing in Latin American markets. Toesca manages four strategies in Latin America: Infrastructure, Private Credit, Real Estate, and Equities. This investment in the LATAM DIP was led by their Private Credit team.
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