Brazil's Gol Finance to sell $250 million of perpetual bonds

By Reshmi Basu

New York, March 20 - Brazilian low-cost GOL Linhas Aereas Inteligentes, via Gol Finance, plans to sell a $250 million offering of perpetual senior unsecured bonds next week, according to a market source.

The fixed-rate bonds will be callable after five years at par in whole or in part with a minimum $150 million remaining after a partial call.

The company will hold a roadshow in Hong Kong on Wednesday and in Singapore on Thursday with marketing wrapping up on March 27.

Morgan Stanley and JP Morgan were the bookrunners for the Rule 144A and Regulation S transaction.

Proceeds will be used to finance the acquisition of aircraft, equipment and supply materials.

Gol and its subsidiary, Gol Transportes Aereos SA, will guarantee the notes.

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