Aerolíneas Argentinas Secures $100 Million Financing Through Capital Market
Aerolíneas Argentinas announced todas the successful acquisition of $100 million through a trust, managed by BICE Fideicomisos S.A, a subsidiary of the Investment and Foreign Trade Bank (BICE). This financial mechanism, known as Financial Trusts, allows various investors to invest, relying on the airline’s capacity to generate funds.
The financial instrument, named VDF FF GLOBAL ARSA I, was given a credit rating of FIX SCR AA stable. The offering took place on October 18th, with a duration of 36 months and an annual interest rate of 3%, with interest payments made quarterly and an amortization plan split into six installments.
Pablo Ceriani, the president of Aerolíneas Argentinas, expressed satisfaction with the agreement, emphasizing that it signifies trust from investors towards the airline’s management. He also highlighted that, thanks to this transaction, the company won’t seek financial support from the national government in 2023.
Meanwhile, Raúl Sánchez, vice president of BICE Fideicomisos S.A., underscored the significance of this achievement for public companies, given the frequent criticism they face for their reliance on state funding.
The airline stressed that this operation was possible due to its positive results in recent years and promising future prospects, reaffirming its commitment to seeking financing alternatives that aren’t solely dependent on the state.
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