January 3, 2018 |
Colombia's Avianca has sold $150m in future receivables to Cayman Islands-based USAVflow, according to a source close to the deal.
The contract rights and receivables sold by the airline corresponded to payments received from card processing agreements with BAC International Bank and American Express, on account of airline tickets sold or related services made in the US.
USAVflow also obtained a five-year loan to fund the receivables purchase. Deutsche Bank was one of the lenders, the source sai
Colombian airline snaps up $150m in exchange for future US receivables