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LatinNews Daily - 24 August 2020
In brief: Mexico’s Aeroméxico secures DIP financing
* Judge Shelley Chapman of the US bankruptcy court for the Southern District of New York has approved debtor-in-possession (DIP) financing for Mexican airline holding company Grupo Aeroméxico. The ruling authorised Aeroméxico to enter into an agreement with Apollo Global Management, formalising Apollo’s commitment to fund up to US$1bn in connection with the DIP financing facility. Up to US$100m in loans will be made immediately available for the company’s financial restructuring process, which began on 30 June. The CEO of Grupo Aeroméxico, Andrés Conesa, said that “the DIP Facility will provide us with liquidity to meet our future obligations in a timely and orderly fashion, and to continue with our operations during and after the voluntary restructuring process".
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