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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  HSBC Holdings plc    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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LATAM Airlines bondholders in talks to supply up to $1.5 billion loan, sources say

06/11/2020 | 05:16pm EST
The departures area of Lan airlines is seen empty inside the international airport,  during an indefinite strike of the Cabin Crew Union of LAN Express, a subsidiary of the Chile-based LATAM Airlines group, Santiago.

By Tatiana Bautzer

A group of bondholders of LATAM Airlines Group SA is in talks to supply up to $1.5 billion in a debtor-in-possession loan within the Chapter 11 proceeding in the United States, two people with knowledge of the matter said on Thursday.

Bondholders including Blackrock Inc, Australia's Macquarie Group, HSBC and Chile's Moneda Asset Management, are informally discussing the issue with investment bank Moelis & Co.

The exact value of the DIP loan will be defined during the talks, but it is expected to be within the $1 billion to $1.5 billion range, the sources added.

LATAM, the bondholders and Moelis did not immediately comment on the matter. Blackrock declined to comment.

LATAM filed for U.S. bankruptcy protection last month, aiming to restructure $18 billion in debt. It was the world's largest airline to date to seek an emergency reorganization due to the coronavirus pandemic.

The company said at the time its shareholders Cueto Group and Qatar Airways had committed to supplying $900 million in additional financing, but that it aimed to raise up to $2.5 billion to support operations.

(This story corrects to say Moelis is engaging in informal discussions with bondholders, was not formally hired, in second paragraph)

(Reporting by Tatiana Bautzer, Editing by Rosalba O'Brien)


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
AT HOME GROUP INC. 4.78% 18.85 Delayed Quote.242.73%
BLACKROCK, INC. 0.62% 703.61 Delayed Quote.39.97%
HSBC HOLDINGS PLC -0.11% 397.85 Delayed Quote.-32.71%
JUST GROUP PLC -1.38% 57.2 Delayed Quote.-26.58%
LATAM AIRLINES GROUP S.A. -0.31% 1088.9 End-of-day quote.-85.57%
MACQUARIE GROUP LIMITED -1.96% 138.27 End-of-day quote.0.30%
MOELIS & COMPANY 0.33% 39.92 Delayed Quote.25.06%
SEEK LIMITED -0.84% 25.96 End-of-day quote.15.12%
THE NEW HOME COMPANY INC. 1.96% 5.73 Delayed Quote.22.96%
WILL GROUP, INC. 0.91% 999 End-of-day quote.-20.21%
WORLD CO., LTD. -0.97% 1324 End-of-day quote.-50.80%
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Financials (USD)
Sales 2020 50 046 M - -
Net income 2020 3 567 M - -
Net Debt 2020 - - -
P/E ratio 2020 31,1x
Yield 2020 1,79%
Capitalization 108 B 108 B -
Capi. / Sales 2020 2,16x
Capi. / Sales 2021 2,18x
Nbr of Employees 230 317
Free-Float 98,1%
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Mean consensus UNDERPERFORM
Number of Analysts 24
Average target price 4,95 $
Last Close Price 5,33 $
Spread / Highest target 38,9%
Spread / Average Target -7,21%
Spread / Lowest Target -29,7%
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Managers
NameTitle
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
John M. Hinshaw Group Chief Operating Officer
Ewen James Stevenson Chief Financial Officer & Executive Director
May Lung Cha Independent Non-Executive Director
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