LatAm Airlines is wrapping roadshows on Tuesday in the US ahead of a potential sale of debt securities through leads Citigroup, Deutsche Bank and J.P. Morgan, said a source. The borrower is marketing a specialised type of aircraft financing called enhanced equipment trust certificates (EETCs), which have been used by foreign airlines to access the US capital markets at attractive costs. The airline, the result of a merger between Brazil's TAM airlines and Chile's LAN airlines, received a first time Ba2 corporate family rating from Moody's in early April.
That same month, Fitch downgraded the credit to BB- from BB, citing high leverage.
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