NEW YORK – May 19, 2025 – Seabury Securities LLC (Seabury”) announced today that the company served as an investment banker, lead placement agent, as well as a financial advisor and sole restructuring advisor, in securing a $ 1.9 billion 5-year senior secured debt financing for one of the leading airlines in Brazil, GOL Linhas Aéreas Inteligentes S.A. (“GOL”).
“We are very pleased to have supported the GOL team in successfully executing this exit financing, which will allow the airline to emerge from the Chapter 11 process,” commented John E. Luth, Chairman, President & CEO of Seabury Capital Group. “This financing is another major success in our 30-year history, and I would like to thank our Seabury team members for their dedication, hard work, and professionalism in bringing this to fruition.”
According to GOL, the exit financing will be used to repay the obligations under the debtor-in-possession financing entered into by the company and its subsidiaries in connection with entry into the Chapter 11 cases and to pay transaction costs. The financing will also enhance GOL’s liquidity position following its emergence from the Chapter 11 cases, providing working capital and other support for business operations moving forward.
View the airline’s official announcement at: https://www.prnewswire.com/news-releases/gol-secures-1-9-billion-of-5-year-exit-financing-302457695.html.
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NEW YORK – August 28, 2024 – SAS has successfully completed its restructuring proceedings and emerged from Chapter 11 in the U.S. and from Swedish company reorganization with US$ 1.2 billion of new capital investment, marking the start of a new era for the airline.
“By successfully concluding its comprehensive business and financial transformation plan, SAS today emerges as a financially robust and competitive airline,” commented John E. Luth, Chairman, President & CEO of Seabury Securities. “With a strengthened capital structure, an experienced management team, and an attractive new customer offering together with joining the SkyTeam global alliance, as well as a commitment to driving transformational change and sustainability in aviation, SAS will remain a leader in our industry for generations to come. Seabury Securities and its aviation professionals, Seabury Aviation Partners, proudly supported the SAS team as investment banker and restructuring advisor in carrying out their impressive efforts to transform SAS into a strong competitive airline connecting Scandinavia to the world.”
Read the official announcement at: https://www.sasgroup.net/newsroom/press-releases/2024/sas-enters-a-new-era-as-scandinavias-leading-airline-following-successful-emergence-from-restructuring-proceedings/
Pictured (left to right): Gary Holtzer, Weil Gotshal, lead restructuring attorney,; Anko van der Werff, President & CEO, SAS; John Luth, Chairman, President & CEO, Seabury Capital Group.
NEW YORK – March 20, 2024 – The Seabury Aviation Partners and Seabury Securities teams congratulate SAS on obtaining the approval of its plan of reorganization from the U.S. Bankruptcy Court for the Southern District of New York. Seabury served as co-lead investment banker and sole restructuring advisor.
Over the course of the chapter 11 process, SAS has successfully reconfigured its aircraft fleet and reached amended lease agreements with 15 lessors, representing 59 aircraft. Through the amended lease agreements, SAS expects to achieve the targeted annual cost savings of at least SEK 1.0 billion in reduced aircraft lease expenses and annual cash flow items relating to aircraft financing. The agreed exit financing transaction with Castlelake, L.P. includes a total investment in reorganized SAS corresponding to USD 1,200 million, which includes USD 475 million in new unlisted equity and USD 725 million in secured convertible debt.
“This is the first Chapter 11 case involving a European publicly traded company, and this case was exceptionally complicated, given the involvement of three sovereign European countries’ governments,” said John E. Luth, Chairman, President & CEO of Seabury Capital Group. “We are honored to have served in a lead role in this milestone case, and are pleased that SAS is now well positioned to compete as one of the world’s leading airlines.”
Read the official announcement at: https://www.sasgroup.net/newsroom/press-releases/2024/sas-receives-court-approval-of-chapter-11-plan/