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Brazil’s Azul launches mandatory repurchase offer for 11½% notes
Chicago, July 20 – Azul SA’s wholly owned subsidiary Azul Secured Finance LLP launched a mandatory repurchase offer for up to $55,900,850 principal amount of the issuer’s 11½% senior secured second-out notes due 2029 (Cusips: 05501WAA0, U0551YAA3), according to a press release.
There are currently $294,215,000 of the notes outstanding.
Azul is offering par as a purchase price, plus interest from July 14 to the repurchase date. The repurchase date is expected to be two business days after the expiration deadline, currently expected to be Aug. 18.
The offer is open to registered holders. Tenders must be in minimum denominations of $175,000 and noteholders who tender only a partial amount of their notes must be left with $175,000 of their notes still outstanding after the offer. Noteholders may also tender all of their notes.
Tenders may be prorated.
The expiration deadline is 11:59 p.m. ET on Aug. 16.
Global Bondholders Services Corp. is the tender and information agent (212 430-3774, 855 654-2014).
Azul is a Sao Paulo, Brazil-based airline.
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