Avianca Closed the Bond Exchange Offer

With a participation of 88.1%, Avianca Holdings S.A. announced the closing of the exchange of its US $ 550 million bond due in May 2020.

With this percentage, the company will then have 484.4 million dollars from the bondholders.

As announced by the company, all participating bondholders will receive guaranteed bonds as described in the exchange offer memorandum, which will automatically be exchanged for new bonds with maturity extended to 2023 and a 9% coupon once the loan is finalized. of US $ 250 million from United Airlines and Kingsland Holdings.

In this regard Adrián Neuhauser, CFO of the company said: “We are very satisfied with this closure as it reaffirms the trust of bondholders and creditors in the plan we have drawn up for the company. We will continue to focus on developing the following phases and achieving the proposed goals to successfully end the financial repercussion. ”

“United congratulates Avianca Holdings for this successful closure,” said John Gebo, Senior Vice President of Alliances at United Airlines, adding: “We are pleased with this achievement, which is one of the main financial steps in the Avianca 2021 Plan.

We hope that the company will promptly meet the remaining milestones and reach agreements with its other creditors in order to fund the credit committed in conjunction with Kingsland. ”

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Avianca Closed the Bond Exchange Offer - /10

Summary

With a participation of 88.1%, Avianca Holdings S.A. announced the closing of the exchange of its US $ 550 million bond due in May 2020.

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