LATAM closes first airline securitisation in a decade

LATAM Airlines, the company formed following the record-breaking merger between Chile’s LAN and Brazil’s TAM, has turned to the New York office of Clifford Chance LLP, Chile’s Claro y Cía and Maples and Calder in the Cayman Islands to issue a securitisation bond worth US$450 million – the first such transaction to close in the Latin American aviation sector in over a decade.