Gol cleans up curve with 2023 LM

Gol cleans up curve with 2023 LM

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Rule 144a/ RegS Brazil

Gol will redeem the roughly $21m it has in outstanding 10.75% 2023 notes on or around May 9, taking proceeds from the $150m 2025 retap it penned in January. After returning to the cross-border bond market in December, the Brazilian airline has sought to clean up its curve and replace existing bonds with lower interest-paying coupons. "In an earlier liability management [Gol] tried to buy back these [2023] bonds... So I think they are doing this to improve their curve," one DCM banker said. A sec

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