GOL Linhas Aereas Inteligentes launches $500 million notes at 7¼%

By Rebecca Melvin

New York, Dec. 6 – Brazil’s GOL Linhas Aereas Inteligentes SA launched $500 million of notes (expected rating: //B) to yield 7¼% and with final pricing seen later Wednesday, a market source said.

Pricing was revised from initial guidance in the 7 3/8% area.

Credit Suisse, BofA Merrill Lynch and Morgan Stanley & Co. LLC are the bookrunners and global coordinators of the notes, which will be issued by Linhas subsidiary GOL Finance.

Proceeds will be used to fund a tender offer of the company’s $276.73 million principal amount of 8 7/8% senior notes due 2022.

The airline is based in Sao Paulo.

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