The ADRs began trading on the NYSE on July 25, 2024, under the ticker symbol “LTM.” This marks LATAM Airlines Group’s return to the NYSE after its departure in June 2020, which occurred due to a restructuring process under Chapter 11.

As part of the subscription offer, the selling shareholders have granted underwriters a 30-day option to purchase up to an additional 2.85 million ADRs at the initial public offering price. LATAM will not receive any proceeds from the sale of ADRs by the selling shareholders. The offering is expected to close on July 26, 2024, subject to customary closing conditions.

Goldman Sachs & Co. LLC, Barclays Capital Inc., and J.P. Morgan Securities LLC are acting as global coordinators and lead bookrunners for the offering. Citigroup Global Markets Inc., Santander US Capital Markets LLC, Deutsche Bank Securities Inc., BNP Paribas Securities Corp., MUFG Securities Americas Inc., Natixis Securities Americas LLC, and Larraín Vial S.A. are serving as additional bookrunners, with Morgan Stanley & Co. LLC participating as co-manager in the transaction.

Since 2015 the Bonds & Loans Awards has been recognizing the most innovative and ground-breaking deals from Sovereign, Corporate and Financial Institution issuers and borrowers. This year, GFC Media Group is delighted to announce that for the first time they will be recognizing the outstanding achievements of Investment Banks’ Deal Teams, Funding Teams, Investment Managers, and Legal Advisers.

This year’s awards ceremony is a testament to the leadership demonstrated by the Latin American & Caribbean finance and investment community, which has successfully navigated through this most turbulent and ground-breaking year.

Following a rigorous selection process, GFC Media Group has announced the Bonds & Loans Latin America & Caribbean Awards 2021 winners.

Deals of the Year WINNERS:

• Sovereign, Supra & Agency Bond Deal of the Year: Republic of Peru
• Investment Grade Corporate Bond Deal of the Year: Coca-Cola FEMSA
• High Yield Corporate Bond Deal of the Year: Mercado Libre
• Hybrid Bond Deal of the Year: CEMEX
• Private Placement Deal of the Year: ATP Tower Holdings
• Liability Management Deal of the Year: United Mexican States
• Structured Finance Deal of the Year: Grupo Elektra
• Syndicated Loan Deal of the Year: Tecnoglass
• Local Currency Deal of the Year: Azul
• Leveraged & Acquisition Finance Deal of the Year: Northland Power
• Project Finance Deal of the Year: EnfraGen
• ESG & Sustainable Finance Deal of the Year: Klabin
• Ground-Breaking Deal of the Year: Suzano

Bank Awards WINNERS:

• Bond House of the Year: J.P. Morgan
• Loan House of the Year: Mizuho
• Structured Finance House of the Year: Goldman Sachs
• Project Finance House of the Year: Sumitomo Mitsui Banking Corporation (SMBC)
• ESG/Sustainable Finance Adviser of the Year: Morgan Stanley

Borrower Awards WINNERS:

• Sovereign Funding Team of the Year: Republic of Chile
• Corporate Funding Team of the Year: Suzano
• Bank Funding Team of the Year: CABEI

Legal Awards WINNERS:

• Banking & Finance Legal Adviser of the Year: Milbank
• Capital Markets Legal Adviser of the Year: Cleary Gottlieb Steen and Hamilton

To join the LatAm & Caribbean industry’s most high-profile figures at the Bonds & Loans Latin America & Caribbean AWARDS ceremony, book your table here today: https://na.eventscloud.com/ereg/index.php?eventid=619953& or contact Andrew Stark on Andrew.Stark@GFCMediaGroup.com

LifeMiles is one of the largest loyalty coalition programs in Latin America with more than 6 million members as of March 31, 2015. A recipient of five Freddie Awards, the program is an important partner for many large banks as well as an increasing network of retailers in South America.

Avianca Holdings S.A. and Advent plan to further develop and grow LifeMiles’
coalition loyalty program, strengthen its presence in Colombia, Peru and Central America and expand its services into new growth markets in Latin America and abroad

Avianca’s CEO Fabio Villegas

Fabio Villegas, Chief Executive Officer of Avianca stated, “We are happy to welcome Advent as our new partner in LifeMiles B.V.  This transaction concludes a thorough evaluation process which allowed us to choose Advent as our ideal partner. Their solid understanding of the loyalty industry and verticals in which LifeMiles operates makes them an excellent long-term partner for the Company. We believe Advent has the right team to help us ensure LifeMiles reaches its full potential, and we look forward to working with them to capture additional opportunities that will benefit customers, commercial partners, and our shareholders.”

Mario Malta, a Managing Director in Advent’s São Paulo office, added, “We believe LifeMiles will benefit from the fundamental trends in Colombia and other key markets, including continued growth in consumer spending, travel and credit card use. We look forward to sharing our retail, and financial services sector expertise and leveraging our network to accelerate the Company’s growth.”

As of December 31, 2014, LifeMiles reported relationships with more than 200 commercial partners, 71 mileage agreements with financial institutions, and 28 co-branded credit and debit cards. It has developed a retail coalition that allows retailers to reward their customers with miles and facilitates the in-store redemption of miles for products sold by participating retailers.

Mauricio Salgar, a Managing Director in Advent’s Bogotá office, stated, “LifeMiles is a strongly positioned business supported by its partnership with Avianca with an innovative set of products and services that appeal to partners and consumers. We are pleased to partner with Avianca Holdings S.A. in supporting LifeMiles´ talented management team as they pursue growth objectives for the business.”

Advent has been investing in sectors complementary to LifeMiles and its commercial partners for over 20 years. The firm has done 65 investments in the business and financial services sector and 65 investments in the retail, consumer and leisure sector across 20 countries worldwide.

In connection with this transaction Avianca was supported by Morgan Stanley & Co. LLC as financial advisor and Simpson Thacher & Bartlett LLP as legal advisor. Deutsche Bank Securities Inc. served as financial advisor and Baker & McKenzie served as legal advisor to Advent.

The Ministry of Housing and Public Credit, Minhacienda, completed a successful bond offering today of $1.5 Billion (US), though there was $5 billion worth of demand from 244 institutional bond buyers from throughout the USA, Europe, Asia, and in Latin America.

Minister Mauricio Cárdenas said regarding the issuance, “Its excellent news that reflects renewed investor confidence in the Colombian economy. Its recognition of the flexibility and capacity to adapt our economic policy in light of the volatility of international commodity prices.”

A year ago, Colombia reached a record low 5.6% interest rate on its long bond offering. This rate of 5% breaks that record. A further testament to the nation’s creditworthiness is the oversubscription of $5 billion exceeding the $4.2 billion oversubscription of a year ago.

 Boletín / Comunicado