Nordic Aviation Capital files bankruptcy to overhaul debt
One of the world’s largest aircraft leasing company filed for Chapter 11 as it seeks to restructure its finances for the second time since the beginning of the pandemic. Denmark-based Nordic Aviation Capital A/S sought bankruptcy protection to overhaul about $6b of debt. On Sept. 24, the company reached an agreement in principle with creditors to fix its balance sheet. The company listed both assets and debt of between $1b and $10b, according to court papers filed in US Bankruptcy Court in Richmond, Virginia. The restructuring framework includes the conversion of “a substantial amount of the group’s debt into equity,” a $300m equity rights offering and a $200m revolving credit facility, the company said.<br/>
https://portal.staralliance.com/cms/news/hot-topics/2021-12-20/general/nordic-aviation-capital-files-bankruptcy-to-overhaul-debt
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Nordic Aviation Capital files bankruptcy to overhaul debt
One of the world’s largest aircraft leasing company filed for Chapter 11 as it seeks to restructure its finances for the second time since the beginning of the pandemic. Denmark-based Nordic Aviation Capital A/S sought bankruptcy protection to overhaul about $6b of debt. On Sept. 24, the company reached an agreement in principle with creditors to fix its balance sheet. The company listed both assets and debt of between $1b and $10b, according to court papers filed in US Bankruptcy Court in Richmond, Virginia. The restructuring framework includes the conversion of “a substantial amount of the group’s debt into equity,” a $300m equity rights offering and a $200m revolving credit facility, the company said.<br/>
