LATAM upsizes first EETC

On May 14, 2015, LATAM Airlines Group priced its inaugural 2015-1 EETC transaction with Citi acting as Sole Structuring Agent, Lead Bookrunner and Global Coordinator. The transaction was launched as a $664mm 11 aircraft deal, and upsized to a $1.021bn 17 aircraft deal. The $845.213 million Class A notes have a 12.5 year tenor, with an 8.4 year weighted average life (WAL). The expected Ratings on this tranche from Moody’s is A2 and A- from Standard & Poor’s, while the notes have an initial and maximum loan-to-value (LTV) of 59.0%. The A notes prices at 4.20%. The $114.265 million Class