Pryor Cashman Represents UMB Bank as DIP Agent, DIP Indenture Trustee, and Indenture Trustee in Azul Chapter 11 Cases
Pryor Cashman successfully represented UMB Bank, N.A. (“UMB Bank”) - as DIP Agent on a US$1.5 Billion Super-Priority Debtor-in-Possession Term Loan Facility (the “DIP Facility”), DIP Indenture Trustee, following the conversion of the DIP Facility to over US$1.4 Billion of DIP Notes, and as Indenture Trustee on over US$2.1 Billion of Secured Notes - in the Chapter 11 bankruptcy cases of Azul, S.A. and its affiliated debtors (collectively, “Azul”).
On February 20, 2026, Azul, Brazil’s leading airline by departures and cities served, successfully emerged from bankruptcy with a revitalized capital structure, led by the issuance of over US$1.3 Billion of Secured Exit Notes. UMB Bank serves as the Indenture Trustee on the Secured Exit Notes.
UMB Bank was represented through the amalgamation of Pryor Cashman’s Bankruptcy, Reorganization, and Creditors’ Rights Practice and Corporate Trust Practice. The team was led by Partner Seth Lieberman, Chair of the Bankruptcy, Reorganization, and Creditors’ Rights Group and Co-Chair of the Corporate Trust Practice; Partner Patrick Sibley, Co-Chair of the Corporate Trust Practice; Partners David Smith and Matthew Silverman; Counsel Arsala Kidwai; and Associates Melissa Brij-Raj and Jake Starr.
