Published on 9/22/2014 in the Prospect News Emerging Markets Daily.
New Issue: GOL Linhas Aereas Inteligentes sells $325 million 8 7/8% notes due 2022 at 9 1/8% yield
By Christine Van Dusen
Atlanta, Sept. 22 – Brazil’s GOL Linhas Aereas Inteligentes SA sold $325 million 8 7/8% notes due Jan. 24, 2022 (expected ratings: B3/B/B-) at 98.706 to yield 9 1/8%, a market source said.
BB Securities, Bradesco BBI, Citigroup, Morgan Stanley and Santander were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to fund a tender offer and for general corporate purposes.
The airline is based in Sao Paulo.
Issuer: | GOL Linhas Aereas Inteligentes SA
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Amount: | $325 million
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Maturity: | Jan. 24, 2022
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Description: | Senior notes
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Bookrunners: | BB Securities, Bradesco BBI, Citigroup, Morgan Stanley, Santander
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Coupon: | 8 7/8%
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Price: | 98.706
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Yield: | 9 1/8%
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Trade date: | Sept. 18
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Settlement date: | Sept. 24
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Expected ratings: | Moody’s: B3
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| Standard & Poor’s: B
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| Fitch: B-
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Distribution: | Rule 144A and Regulation S
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