By Toni Weeks
San Luis Obispo, Calif., April 1 - Colombia's Avianca Holdings SA and subsidiaries Grupo Taca Holdings SA and Avianca Leasing, LLC priced a $250 million reopening of their dollar-denominated 8 3/8% notes due 2020, according to a press release.
The bond, which was first priced at 8 3/8% in May 2013, has improved by about 80 basis points to date, with a 7.44% yield to maturity, according to the release.
The offering was oversubscribed by more than 3.5 times.
Settlement is expected April 8.
Proceeds will be used primarily for fleet financing and other general corporate purposes.
Lineas Aereas Costarricenses SA, Taca International Airlines SA and Transamerican Airlines SA will act as guarantors.
Aerovias del Continente Americano SA Avianca will act as guarantor to Avianca Leasing obligations in an amount of up to two-thirds of the offering, the announcement said.
Avianca is a Bogota, Colombia-based airline holding company.
| Co-issuers: | Avianca Holdings SA, Grupo Taca Holdings SA and Avianca Leasing, LLC
|
| Guarantors: | Lineas Aereas Costarricenses SA, Taca International Airlines SA and Transamerican Airlines SA
|
| Issue: | Bonds
|
| Amount: | $250 million
|
| Maturity: | 2020
|
| First issued: | May 10, 2013
|
| Coupon: | 8 3/8%
|
| Yield to maturity: | 7.44%
|
| Pricing date: | April 1
|
| Settlement date: | April 8
|
| Ratings: | S&P/Fitch: B+
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