Avianca Holdings extends bond exchange offer participation deadline

Avianca Holdings has set a deadline for the exchange offer of its $550 million bonds due May 2020 has been further extended to October 24. As of today, a total of 87.45% of bonds has been validly tendered. Earlier this month, Avianca reached an agreement with United Airlines and Kingsland Holdings in regards to a $250 million financing loan. United and Kingsland have agreed to provide Avianca a four-year loan at an interest rate of 3%; interest will be paid-in-kind until maturity, granting Avianca greater financial flexibility.  The loan will convert into shares at Avianca’s option – at an equivalent price per