Skip to main content
Link to Walkers homepage

Advising Avianca on US$2.1 billion debt refinancing and new issuance

Mar 27, 2025

Our work
A man in a business suit signing a legal contract.
Avianca, one of Latin America’s largest airlines, has successfully completed a debt refinancing transaction. This transaction was critical in refinancing debt incurred following Avianca’s emergence from Chapter 11 bankruptcy in 2021, improving the company's debt maturity profile. The first transaction involved an exchange offer to refinance Avianca’s existing tranche of A1 senior secured notes. Concurrently, the company issued a new tranche of senior secured notes, ranking equally with the exchange notes. The proceeds from this issuance were used to redeem Avianca’s A2 senior secured notes and prepay an existing credit facility for its LifeMiles subsidiary.
 
We acted as Bermuda counsel to Avianca, working alongside Simpson Thacher & Bartlett as US counsel. Our team provided strategic advice on the Bermuda security structure to facilitate the simultaneous execution of the exchange, issuance, redemption, and repayment transactions.
 
This latest transaction highlights our longstanding relationship with the Avianca Group, to whom we provide multidisciplinary legal support across our corporate and finance teams.
 
Our team was led by partner Adam Bathgate, supported by senior counsel Joe Williams, senior associate Korin Knights, and associate Karina Skinner.
 
 

Media Contact

Emily Hirsch

Communications and Digital Marketing Manager - Americas/Cayman Islands

T/+1 345 814 6805
M/+1 345 936 6805
E/Email Emily Hirsch

Key Contacts

Get in touch with our team

Adam Bathgate
Adam Bathgate

Adam Bathgate

Partner

Bermuda

T

+1 441 242 1515

M

+1 441 525 1515

E

Email Adam Bathgate
View profile
Joe Williams
Josef Williams

Joe Williams

Senior Counsel

Bermuda

T

+1 441 242 1530

E

Email Joe Williams
View profile
Korin Knights
Korin Knights

Korin Knights

Senior Associate

Bermuda

T

+1 441 242 1514

M

+1 441 525 1514

E

Email Korin Knights
View profile
Karina Skinner
Karina Skinner

Karina Skinner

Associate

Bermuda

T

+1 441 242 1558

M

+1 441 525 1558

E

Email Karina Skinner
View profile

Get the latest insights and expertise in your inbox 

Fluid ink image
Sign up
logo footer

Connect with us

FacebookFacebook
InstagramInstagram
LinkedInLinkedIn

Employee login

Self Service Password ResetWalkers AnywhereWalkers Sharefile
Legal notices/Cookies policy

All rights reserved - © 2025 Walkers Global