TAM Raises US$331 Million to Finance PDPs of B777-300ER Aircraft.
PR Newswire Europe, March, 2007
SAO PAULO, Brazil, March 13 /PRNewswire/ --
TAM S.A. (NYSE: TAM) (BOVESPA: TAMM4) signed a Letter of Intent (LOI) to finance the PDP (Pre Delivery Payments) for four Boeing 777-300ER in the amount of US$331 million. The financing term is a syndicated loan lead by Calyon and Natixis Transport Finance with guarantees provided by the right of the aircraft ownership and by TAM S.A.
(Logo: http://www.newscom.com/cgi-bin/prnh/20060418/SPTU001LOGO )
The financing has a maximum deadline of September 2008, matching the current delivery schedule for the new aircraft. The loan will be repaid at the time of the aircraft delivery using a credit line through EXIMBANK.
In October 2006, TAM signed a firm order for four B777-300ER with four...
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