Oaktree Capital Management’s US$750 Million Financing to LATAM Airlines Group

DLA Piper Chile, Cescon, Barrieu, Flesch & Barreto and White & Case advised Oaktree Capital Management, while Claro & Cía., Demarest , Rodrigo, Elías & Medrano, Pérez Bustamante & Ponce and Cleary Gottlieb Steen & Hamilton advised Latam on the transaction.

Oaktree Capital Management granted a financing to LATAM Airlines Group S.A., and other group entities, up to the amount of US$750,000,000 corresponding to Tranche B of the DIP Financing Agreement entered into by LATAM, in the context of the Chapter 11 reorganization process before the Bankruptcy Court of the Southern District of New York, which included the extension of the guarantees granted for Tranches A and C, consisting of certain pledges on LATAM shares and accounts under Chilean law and general liens under New York law.

Founded in 1955, Oaktree Capital Management is a leading global alternative investment management firm with expertise in credit strategies.

Founded out of the Brazilian LAN and the Chilean TAM merger in 2012, the LATAM Airlines Group constitutes the leading aviation company in Latin America.

The DLA Pipe Chile team was led by partners Mauricio Halpern (Picture), Matías Zegers, supported by Hugo Molina, associate.

In Brazil, Cescon, Barrieu, Flesch & Barreto advised LATAM with Daniel Laudisio and Amanda Sobreira Arêas.

White & Case advised Oaktree Capital Management in US.

Cleary Gottlieb Steen & Hamilton avised LATAM with a team including Richard Cooper, Lisa Schweitzer, Luke Barefoot, Penelope L. Christophorou, Kara Hailey, Thomas S. Kessler, Kimberly Black, John Veraja, Linda Zang and Christopher Reszczynski.

In Chile, Claro & Cia. advised LATAM with José María Eyzaguirre Baeza, José María Eyzaguirre Fernández, Nicolás Luco and Felipe Larraín.

In Brazil, Demarest advised LATAM with Celso Xavier, Thiago Giantomassi Medeiros, Guilherme Fontes Bechara, Christiano Chagas Monteiro de Melo, Marc Stalder, Marcelo Peloso and Fausto Teixeira

In Perù, Rodrigo, Elías & Medrano advised LATAM with Guillermo Puelles, Bruno Baigorria and Renzo Rossi.

In Equador, Pérez Bustamante & Ponce advised LATAM with Diego Pérez Ordóñez, Andrés Brown Pérez and Ricardo Pérez.

 

Involved fees earner: Daniel Laudisio – Cescon, Barrieu, Flesch & Barreto; Amanda Sobreira Arêas – Cescon, Barrieu, Flesch & Barreto; José María Eyzaguirre – Claro y Cia; José María Eyzaguirre F. – Claro y Cia; Felipe Larraín – Claro y Cia; Nicolás Luco – Claro y Cia; Luke Barefoot – Cleary Gottlieb Steen & Hamilton; Kimberly Black – Cleary Gottlieb Steen & Hamilton; Penelope Christophorou – Cleary Gottlieb Steen & Hamilton; Richard Cooper – Cleary Gottlieb Steen & Hamilton; Kara Hailey – Cleary Gottlieb Steen & Hamilton; Thomas Kessler – Cleary Gottlieb Steen & Hamilton; Christopher Reszczynski – Cleary Gottlieb Steen & Hamilton; Lisa Schweitzer – Cleary Gottlieb Steen & Hamilton; Linda Zang – Cleary Gottlieb Steen & Hamilton; Celso Caldas Martins Xavier – Demarest; Christiano Chagas Monteiro de Melo – Demarest; Guilherme Fontes Bechara – Demarest; Thiago Giantomassi – Demarest; Marcelo Peloso – Demarest; Marc Stalder – Demarest; Fausto Teixeira – Demarest; Mauricio Halpern – DLA Piper Chile; Hugo Molina – DLA Piper Chile; Matías Zegers – DLA Piper Chile; Andrés Brown Pérez – Pérez Bustamante & Ponce; Ricardo Pérez Irarrázaval – Pérez Bustamante & Ponce; Diego Pérez Ordoñez – Pérez Bustamante & Ponce; Bruno Baigorria – Rodrigo, Elías & Medrano Abogados; Guillermo Puelles – Rodrigo, Elías & Medrano Abogados; Renzo Rossi – Rodrigo, Elías & Medrano Abogados;

Law Firms: Cescon, Barrieu, Flesch & Barreto; Claro y Cia; Cleary Gottlieb Steen & Hamilton; Demarest; DLA Piper Chile; Pérez Bustamante & Ponce; Rodrigo, Elías & Medrano Abogados;

Clients: LATAM Airlines; Oaktree Capital Management;