April 6, 2018 |
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  bonds... So I think they are doing this to improve their curve," one DCM banker said.
Brazilian airline expects to pay these outstanding bonds with proceeds from a $150m January retap, source