One of the world’s largest aircraft leasing company filed for chapter 11 as it seeks to restructure its finances for the second time since the beginning of the pandemic. Denmark-based Nordic Aviation Capital A/S sought bankruptcy protection to overhaul about $6 billion of debt, Bloomberg News reported. On Sept. 24, the company reached an agreement in principle with creditors to fix its balance sheet. The company listed both assets and debt of between $1 billion and $10 billion, according to court papers filed in U.S. Bankruptcy Court in Richmond, Virginia. The restructuring framework includes the conversion of “a substantial amount of the group’s debt into equity,” a $300 million equity rights offering and a $200 million revolving credit facility, the company said. Silver Point Capital and Sculptor Capital Management are set to take control of the company as part of the deal, people familiar with the matter said on Sept. 30.
