Supporting LATAM Airlines’ fleet expansion

Santander Corporate & Investment Banking (Santander CIB) has successfully closed a USD 200 million Pre-Delivery Payment (PDP) facility with LATAM Airlines to finance the Pre-Delivery-Payments (PDP) of 23 new Airbus A320neo/A321neo aircraft, reinforcing a long-standing relationship with one of Latin America's leading airlines.

Acting as Global Coordinator & Bookrunner, Mandated Lead Arranger, Co-Structuring Agent, Facility Agent and Security Agent, Santander CIB supported a transaction that also marks an important industry milestone. It is the first PDP financing in Chile since 2019 and the first Pre-Delivery Payment transaction backed by Balthazar, the private credit insurance solution developed by Marsh and Airbus.

Beyond supporting LATAM's investment in new aircraft, the transaction highlights our expertise in structured trade and aviation finance, combining innovative financing structures with long-standing client relationships to deliver complex financing solutions.

Congratulations to all teams involved in this milestone transaction.