By Reshmi Basu
New York, March 29 - Brazilian low-cost airline Gol Linhas Aereas Inteligentes, via Gol Finance, sold a $200 million offering of perpetual senior unsecured bonds (Ba2) at par to yield 8¾%, according to a market source.
The deal, decreased from $250 million, priced in line with price guidance that was in the 8¾% area.
The issuance of fixed-rate bonds will be callable after five years at par in whole or in part with a minimum $150 million remaining after a partial call.
Morgan Stanley and JP Morgan were the bookrunners for the Rule 144A and Regulation S transaction.
Proceeds will be used to finance the acquisition of aircraft, equipment and supply materials.
Gol and its subsidiary, Gol Transportes Aereos SA, will guarantee the notes.
| Issuer: | Gol Finance
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| Guarantors: | Gol Linhas Aereas Inteligentes, Gol Transportes Aereos SA
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| Amount: | $200 million
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| Issue: | Senior unsecured bonds
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| Maturity: | Perpetual
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| Coupon: | 8¾%
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| Issue price: | Par
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| Yield: | 8¾%
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| Call options: | Callable on April 5, 2011 at par in whole or in part with a minimum $150 million remaining after a partial call
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| Pricing date: | March 29
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| Settlement date: | April 5
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| Bookrunners: | Morgan Stanley, JP Morgan
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| Rating: | Moody's: Ba2
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| Price guidance: | 8¾% area
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