Abra Group has entered into a commitment letter with investment firm Castlelake to raise USD1.3 billion in funds to avoid the risk of default on the holding’s bonds due to GOL Linhas Aéreas Inteligentes’s ongoing US Chapter 11 bankruptcy process.
The financing will be used to refinance Abra’s senior secured notes in full, the group – which owns shares in GOL, avianca airlines, and Wamos Air – said in an investor notice on August 18.
Bloomberg says Abra Group presented investors with Castlelake’s…
Source: ch aviation
Read more: Abra negotiates .3bn loan to address GOL's C11