We advised the initial purchasers on the high-yield notes offering

Davis Polk advised the initial purchasers in connection with a Rule 144A / Regulation S offering of $600 million aggregate principal amount of Avianca MidCo 2 PLC’s 9.500% senior secured notes due 2031, to redeem a portion of the outstanding 9.000% senior secured notes due 2028 and for general corporate purposes.

The notes are unconditionally guaranteed by Avianca Group International Limited, as ultimate parent and parent guarantor, and certain subsidiaries of Avianca and are secured by, among other things, Avianca’s LifeMiles loyalty program and Avianca’s brand intellectual property.

Avianca is a leading group of airlines providing passenger air travel, loyalty and cargo services in South America, Central America, North America and Europe. Avianca is the leading airline in Colombia and Central America, operating over 700 daily scheduled flights to 83 destinations in South America, Central America, North America and Europe across 168 routes and provides access to over 190 countries through its Star Alliance partners.

The Davis Polk capital markets team included partners Hillary A. Coleman and Maurice Blanco and associate Xi (Brooke) Zheng. The finance team included partner Aaron Ferner, counsel Adela Troconis and associates Duan Xu and Anarelis Ramirez. The intellectual property team included partner Frank Azzopardi and counsel Christopher C. Woller. Counsel Alon Gurfinkel provided tax advice. Members of the Davis Polk team are based in the New York and London offices.

Copy link to share post