By Angela McDaniels
Tacoma, Wash., June 20 - VRG Linhas Aereas SA issued R$500 million of six-year debentures, according to a news release from controlling shareholder GOL Linhas Aereas Inteligentes SA.
The debentures pay 120% of the Brazilian CDI interbank rate and will be amortized in two consecutive annual payments with a 60-month grace period. The final payment date is June 10, 2017.
Beginning 13 months after issue, the debentures are callable at any time.
Banco Bradesco BBI SA was the lead manager with BB Banco de Investimento SA as co-manager.
This is the company's fifth series of non-convertible unsecured debentures.
VRG is a Rio de Janeiro-based air carrier, and GOL is a low-cost airline based in Sao Paulo.
| Issuer: | VRG Linhas Aereas SA
|
| Issue: | Debentures
|
| Amount: | R$500 million
|
| Maturity: | June 10, 2017
|
| Managers: | BB Banco de Investimento SA (lead) and BB Banco de Investimento SA
|
| Coupon: | 120% of Brazilian CDI rate
|
| Call option: | At any time beginning 13 months after issue
|
| Announcement date: | June 20
|
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