Brazil's Azul launches notes offering as part of broad restructuring plan – Reuters

SAO PAULO, July 12 (Reuters) – Brazilian airline Azul announced on Wednesday it is launching a public offering of senior secured notes due 2028, fulfilling its pledge to raise additional capital as it moves forward with a broader restructuring plan.

Azul, Brazil’s largest airline in number of flights and cities served, said in a statement it will pledge certain receivables from loyalty program TudoAzul and travel package business Azul Viagens as collateral in the offering.

The carrier had previously reached a deal with aircraft lessors to give them equity and tradable debt in exchange for lower payments, and last month announced exchange offers to delay the maturity of bonds expiring in 2024 and 2026.

Chief Executive John Rodgerson had tol…

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