Virgin Australia talks $300 million five-year bullet at 8½% area

By Paul A. Harris

Portland, Ore., Nov. 12 – Virgin Australia Holdings Ltd. talked its $300 million offering of non-callable five-year senior notes (B3/B-/) to yield in the 8½% area, according to a market source.

Books close at 2 p.m. ET Wednesday for accounts in the United States. For Asia Pacific and European accounts books close at the respective Wednesday closes of business.

Goldman Sachs & Co. is the bookrunner for the Rule 144A and Regulation S for life offering.

The Brisbane, Australia-based airline plans to use the proceeds to build additional dollar-denominated liquidity and meet its dollar-denominated financing obligations.

Virgin Australia, formerly Virgin Blue Airlines, is Australia’s second-largest airline.

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