Seabury Securities advises Avianca Holdings on reprofiling of US$4.5 billion of obligations

Seabury Securities, the wholly-owned investment banking arm of Seabury Capital Group (collectively, Seabury Capital) has announced the successful completion of a comprehensive liquidity program for Avianca Holdings (Avianca) that involved reprofiling over US$4.5 billion of lease and debt obligations (excluding debt at Avianca’s LifeMiles subsidiary) as well as securing US$375 million of new financing and financing commitments anchored by a US$250 million mandatorily convertible loan facility provided by United Airlines and Kingsland Holdings.

“The success of this liquidity program can be directly linked to the courage of Avianca’s executive team and Board of Directors in embracing comprehensive profit turnaround and liquidity plans that are codified in the Avianca 2021 Plan and to the financial support provided by United and Kingsland,” said John E. Luth, Chairman, President & CEO of Seabury Capital Group. “That combination gave us the ability to collectively persuade Avianca’s creditors, lessors, and other key stakeholders to commit to continuing to support Avianca.”

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