Abra Group has secured two private fanancing transactions worth a total of $1.25bn.
One of the holding group’s own subsidiaries, Abra Global Finance (based in the Cayman Islands), closed a private placement of $510mn in aggregate principal amount of senior secured notes due in 2029, according to ch-aviation.
Abra Group also entered into a term loan credit agreement with Castlelake which provides for a five-year, senior secured term loan credit facility of $740mn, guaranteed by the holding and certain subsidiaries.
The group has used both loans and cash to fund the repayment of old debt made up of senior secured notes that were due in 2028.
It agreed with the holders of these secured notes to resolve the financial defaults related to GOL’s Chapter 11 bankruptcy filing earlier this year.
Abra Group owns Avianca, GOL and Wamos Air.
