Azul issues new notes to catch up on debt

Azul issues new notes to catch up on debt

Corporate & Sovereign Strategy Bonds Debt Fixed Income

Brazilian airline Azul sold $600 million worth of new five-year non-call three bonds on Thursday, raising US dollars to catch up on payments that it postponed during the COVID-19 pandemic, according to sources close to the deal. The airline priced the 7.25% 2026 bonds at 99.485 to yield of 7.375% after opening the deal in the 8% area and setting guidance at 7.625%, plus or minus 12.5 basis points, said a source on the sell side. The company's junk ratings, and its plan to use the proceeds to pay

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