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Citi $100 million loan for Taca reopens debt logjam

Friday, June 18, 2010

Citi reopened Central American corporate debt markets with a $100 million facility for Taca Airlines.

The loan is to be used for working capital and the strengthening of the expansion plan that was launched in 2006. A portion of the resources will be used for fleet expansion and capital goods in the region.

Citi highlighted the strengths of Taca, including the top-level management team, the value of the brand, and the recent strategic alliance with Avianca.

Original source (in Spanish): El Diario de Hoy