PPU assists Glas Americas in Avianca exit financing
Philippi Prietocarrizosa Ferrero DU & Uría has advised Glas Americas LLC on the financing of the Avianca Group Exit
Philippi Prietocarrizosa Ferrero DU & Uría has assisted Glas Americas LLC, as Collateral Agent, in the Exit Financing of Avianca’s Chapter 11 exit pursuant to the plan of reorganisation confirmed by the Bankruptcy Court for the Southern District of New York on 2 November 2021.
This financing will enable Avianca’s exit from US bankruptcy proceedings and provides a significant amount of resources for the financial strength of the Avianca Group.
This transaction was closed on 1 December 2021 for an amount of $1,695,807,454 US dollars.
Gómez-Pinzón Abogados acted as Colombian counsel to the Issuer and the Guarantors; Milbank, as US counsel to the Issuer and the Guarantors; Perkins Coie, as US counsel to the Client as Collateral Agent; Skadden as counsel to certain lenders; Simpson Thacher Law, as counsel to JP Morgan Chase as DIP Collateral Agent; Dentons Cardenas & Cardenas as Colombian counsel to the Issuer and the Guarantors in connection with the Branded Collateral; PPU (Chile), as counsel to the Client as Collateral Agent in Chile; PPU (Peru), as counsel to the Client as Collateral Agent in Peru; and PPU (Colombia), as counsel to the Client as Collateral Agent in Colombia.
The teams of the participating firms were as follows:
Gómez-Pinzón Abogados: partner Ricardo Fandiño De La Calle, senior associate Daniel Florez, and counsel Silvia Preciado and Sara Ferrer;
Milbank: partners Evan Fleck, Francisco Nuñez and Marcelo Mottessi, associates Benjamin Shack, Gonzalo Guitart, Andrew Park, Christina Sonageri, Sharma Soumya and Gemma Cullen;
Perkins Coie: counsel Nina Varughese;
Skadden: international visiting professional Gonzalo Robles and associate Nicolás Perez Sierra;
Simpson Thacher Law: Zachary Weiner;
Dentons: partner Catalina Pinilla and associate Alejandro Parra;
PPU (Chile): partner Marcelo Armas (pictured left) and associate Pedro Valenzuela;
PPU (Peru): associate Fiorella Ruiz;
PPU (Colombia): partner Hernando Padilla (pictured right), senior associate Ana María Ramírez and associate Juan Camilo Uribe.
