Gol Bond Dives in Aftermarket

Gol Bond Dives in Aftermarket

Brazil Bonds

Brazil's Gol has priced a new $200m 2023 NC5 bond, which struggled in the aftermarket after investors filled a modest $450m book. The Brazilian airline priced at 98.506 with a 10.75% coupon to yield 11.00%, in line with 11.00%-area guidance. The bonds later dipped 2.0 points in the grey, traders say, before recovering to 97.25-97.75 late Thursday. The small size and concern over financials and the industry outlook kept many investors at bay, despite a 75bp pickup to Gol's 2020 bonds on a G-sprea

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