New Issue: Gogo prices $20 million add-on to 9 7/8% notes due 2024 at 100.5

By Paul A. Harris

Portland, Ore., May 3 – Gogo Inc. priced a $20 million add-on to the Gogo Intermediate Holdings LLC 9 7/8% senior secured notes (B3/CCC+) due May 1, 2024 at 100.5 to yield 9.743% on Friday, according to a syndicate source.

Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC were the joint bookrunners.

The Chicago-based provider of inflight internet services plans to use the proceeds for general corporate purposes.

Issuer:	Gogo Intermediate Holdings LLC
Amount:	$20 million
Maturity:	May 1, 2024
Security description:	Add-on to 9 7/8% senior secured notes due May 1, 2024
Bookrunners:	Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC
Co-managers:	Cowen, William Blair, Raymond James & Associates Inc., Roth, Stifel Nicolaus & Co. Inc. and SunTrust Robinson Humphrey Inc.
Coupon:	9 7/8%
Price:	100.5
Yield:	9.743%
Spread:	741 bps
First call:	May 1, 2021 at 104.938 ($150 million callable at 103 with the proceeds of a strategic investment until May 1, 2020)
Trade date:	May 3
Settlement date:	May 7
Ratings:	Moody's: B3
	S&P: CCC+
Distribution:	Rule 144A for life and Regulation S

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