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Virgin Australia to sell $50 million tap of 8½% bullet notes due 2019 on Thursday
By Paul A. Harris
Portland, Ore., Nov. 18 – Virgin Australia Holdings Ltd. plans to price a $50 million add-on to its non-callable 8½% senior notes due Nov. 15, 2019 (existing ratings B3/B-) on Thursday, according to an informed source.
Goldman Sachs & Co. is the bookrunner for the Rule 144A and Regulation S add-on.
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.
The original $300 million issue priced at par on Nov. 13, 2014.
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