Latam Airlines launches $700 million notes due 2024 to yield 6 7/8%

By Colin Hanner

Chicago, April 6 – Chile’s Latam Airlines Group SA launched a $700 million offering of seven-year notes to yield 6 7/8%, a market source said. The deal has not officially priced.

Yield talk had been in the 7% area, a market source said.

The Rule 144A and Regulation S offering was expected to price on Thursday.

BofA Merrill Lynch and Credit Suisse are the global coordinators and along with BNP Paribas, BTG Pactual, Natixis and Santander are the bookrunners.

The airline is based in Santiago.

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