Aeroméxico exits restructuring; IAG issues convertible note

Grupo Aeroméxico has successfully concluded its financial restructuring and has emerged from Chapter 11.  The reorganised Aeromexico’s equity value is now US$2.564bn, with 136,423,959 new outstanding listed shares valued theoretically at $389.0187 pesos per share (US$18.79). Aeromexico’s largest shareholders include funds managed by Apollo Global Management, Delta Air Lines, as well as existing and new Mexican investors that formed the group with voting control. The Baupost Group, Silver Point Capital, Oaktree Capital Management and other funds that were part of the ad hoc groups of creditors are also shareholders after investing approximately US$720 million in new capital. This is in addition