Simpson Thacher represented JPMorgan Chase Bank, N.A., in its capacity as Administrative Agent under the super-priority debtor-in-possession credit facility of Avianca Holdings S.A. (collectively with its subsidiaries, “Avianca”), in connection with Avianca’s chapter 11 restructuring completed on December 1, 2021.
The plan of reorganization provided the lenders under the Avianca DIP facility with exit notes or equity in the reorganized Avianca.
Avianca is the second largest airline group in Latin America and the most prominent carrier providing service to the Republic of Colombia and the Republic of El Salvador. It is the largest airline in the Republic of Colombia, a code-share partner of United Airlines and a member of Star Alliance. Established in 1919, Avianca has a 100-year legacy as a leading provider of air travel and cargo services in the Latin American market and around the globe.
The Simpson Thacher team included Sandy Qusba, Nick Baker, Soogy Lee, Ashley Gherlone and Zachary Weiner (Restructuring); Daniel Kay and Mari Zaldivar (Banking & Credit); David Azarkh (Capital Markets); and Genevieve Dorment (IP).