Seabury Securities Advises Avianca Holdings S.A. on Reprofiling of $4.5 Billion of Obligations and in Securing $375 Million in New Financing & Commitments Led by United Airlines & Kingsland Holdings

NEW YORK–(BUSINESS WIRE)–#Avianca–Seabury Securities LLC, the wholly-owned investment banking arm of Seabury Capital Group LLC (collectively, “Seabury Capital”) announced today the successful completion of a comprehensive liquidity program for Avianca Holdings S.A. (“Avianca”) that involved reprofiling over $4.5 billion of lease and debt obligations (excluding debt at Avianca’s LifeMiles subsidiary) as well as securing $375 million of new financing and financing commitments anchored by a $250 million mandatorily convertible loan facility (the “Convertible Loan Facility”) provided by United Airlines Inc. (“United”) and Kingsland Holdings S.A. (“Kingsland”). Funding of the Convertible Loan Facility today triggered the going effective of the reprofiling program, anchored by an ambitious profit turnaround plan, the “Avianca 2021 Plan,” which Seabury Capital played a key role in designing.

“The success of this liquidity program can be directly linked to the courage of Avianca’s executive team and Board of Directors in embracing comprehensive profit turnaround and liquidity plans that are codified in the Avianca 2021 Plan and to the financial support provided by United and Kingsland,” said John E. Luth, Chairman, President & CEO of Seabury Capital Group. “That combination gave us the ability to collectively persuade Avianca’s creditors, lessors, and other key stakeholders to commit to continuing to support Avianca.”

Anko van der Werff, Chief Executive Officer of Avianca, remarked: “The Avianca 2021 Plan represents the foundation for Avianca’s future, and we are excited now to have completed this important reprofiling program and to have received funding from United and Kingsland that serves as the cornerstone of our Plan. Our Plan incorporates a comprehensive profit boost, to be executed over the coming 24 months, that is designed to drive better unit revenue and cost performance by Avianca. Our collaboration with Seabury Securities was crucial to crafting a plan that would earn the confidence of our creditors, travel partners, employees, and other key stakeholders.”

Added Adrian Neuhauser, Chief Financial Officer of Avianca, commented: “We are very pleased with the enormous outpouring of support from our creditors and key stakeholders and vote of confidence by United and Kingsland. We appreciate the extraordinary investment banking and restructuring advisory services provided to us by Seabury Securities, which was critical to the success of the reprofiling.”

ABOUT SEABURY SECURITIES

Seabury Securities is a wholly-owned subsidiary of Seabury Capital Group LLC (collectively, “Seabury Capital”), a leading global advisor to the aviation industry, providing airlines with restructuring and corporate recovery advisory services aimed to strengthen their operational and profit performances while also bolstering their liquidity position and strengthening their balance sheets. Seabury Capital has executed over 1,500 engagements in over 50 countries during its 25-year history, including a significant majority of all successful airline turnarounds.

ABOUT SEABURY CAPITAL GROUP

Seabury Capital Group LLC (“Seabury Capital”) operates a number of specialty finance, investment banking, technology, and software companies with a core focus anchored in aviation, aerospace & defense, maritime, and financial services & technology. Since its founding in 1995, Seabury Capital has taken ownership stakes in software and asset management businesses servicing the aviation and travel industries. Seabury Capital expects to end 2019 with over $1 billion in assets and intends to leverage those resources to launch one or more specialize investment funds in aviation, travel and technology in 2020 under a newly incorporated investment fund manager, Seabury Capital Management LLC.

Within the last few years, Seabury Capital has expanded its portfolio by investing in early stage startup companies within the financial technology industry and structured investment products. In addition, Seabury Capital owns and operates FINRA, NFA and FCA regulated investment banking services firms in the U.S. and U.K., respectively, serving external clients as well as assisting the companies in which Seabury Capital has invested.

Seabury Capital has operations in New York, Amsterdam, Beijing, Berlin, Chicago, Cordoba, Dallas, Dublin, Durban, Edison (NJ), Guernsey, Hong Kong, Houston, Jersey City, London, Los Angeles, Manila, Minneapolis, Mumbai, Nairobi, Ottawa, Seoul, Shannon, Singapore, Summit (NJ), Stamford (CT), and Tokyo.

Reference Seabury Capital at www.seaburycapital.com.

Contacts

Media Contact:

John E. Luth

pr@seaburycapital.com
+1 612 263 6953

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