New York, July 17 - TAM Linhas Aereas SA said it priced R$600 million of bonds with a coupon of 126.5% of the daily interbank deposit rate.
The debt matures on July 24, 2013 and amortizes in 13 quarterly payments beginning July 24, 2010.
TAM said the offering was its first public bond sale. It was available to qualified investors.
Backing for the securities is a fiduciary assignment of receivables and an additional surety guarantee from TAM.
Proceeds will be used for working capital.
BB - Banco de Investimento SA was coordinator for the issue.
TAM is a Sao Paulo, Brazil-based airline.
| Issuer: | TAM Linhas Aereas SA
|
| Issue: | Regular bonds
|
| Amount: | R$600 million
|
| Maturity: | July 24, 2013, amortizes quarterly from July 24, 2010
|
| Coupon: | 126.5% of daily interbank deposit rate
|
| Coordinator: | BB - Banco de Investimento SA
|
| Settlement: | July 24
|
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