Gogo Inc. (NASDAQ: GOGO) has priced its private offering of additional 12.500 percent senior secured notes due 2022 to be issued by its direct wholly owned subsidiary, Gogo Intermediate Holdings LLC and its indirect wholly owned subsidiary, Gogo Finance Co. Inc., together with the issuer, the company said.
The principal amount of the additional notes is USD65 million and the additional notes will be issued at a price equal to 108 percent of their face value, resulting in gross proceeds of USD70.2 million. The issue price for the additional notes will include accrued interest from January 1, 2017 to the closing date. The offering is expected to close on January 3, 2017, subject to customary closing conditions.
The issuer said it intends to use the net proceeds from the sale of the additional notes for working capital and other general corporate purposes.
Related Articles