Morgan & Morgan assists Avianca on $550m notes issuance
Panamanian law firm Morgan & Morgan has advised Avianca Holdings on the launch and consummation of an exchange offer of the company’s previously issued $550,000,000. 8.375 per cent senior notes due 2020 for newly issued $550,000,000, 8.375 per cent senior secured notes due 2020.
The exchange notes will be issued by Avianca and will be guaranteed by Avianca Leasing and Grupo Taca Holdings, which were co-issuers of the previous notes, and will additionally be guaranteed by Avianca Ecuador, Tampa Cargo, Aviateca, Latin Logistics, International Trade Marks Agency, and a newly created intermediate holding company (Parent HoldCo), which did not guarantee the previous notes.
BofA Securities, Citigroup Global Markets, Deutsche Bank Securities, JP Morgan Securities and Goldman Sachs & Co acted as the dealer managers of the exchange offer, with BofA Securities acting as global coordinator of the exchange offer. Wilmington Savings Fund Society acted as indenture trustee and collateral trustee, Citibank acted as transfer agent, registrar and principal paying agent, and Cititrust Colombia, Sociedad Fiduciaria, acted as Colombian collateral agent.
Morgan & Morgan’s team comprised, (pictured, left to right), partner Ricardo Arias, senior associate Aristides Anguizola, and associates Allen Candanedo and Maria Eugenia Brenes.
