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Gogo Inc. Announces Launch of $900 Million Senior Secured Notes Offering
CHICAGO, April 15, 2019 /PRNewswire/ -- Gogo Inc. (NASDAQ:GOGO) announced the commencement of a private offering of $900 million aggregate principal amount of
About this update from Gogo Inc.
[{"type":"text","content":"CHICAGO, April 15, 2019 /PRNewswire/ -- Gogo Inc. (NASDAQ:GOGO) announced the commencement of a private offering of $900 million aggregate principal amount of senior secured notes due 2024 (the \"Notes\") to be issued by its direct wholly owned subsidiary, Gogo Intermediate Holdings LLC (\"Holdings LLC\"), and its indirect wholly owned subsidiary, Gogo Finance Co. Inc. (the \"Co-Issuer\" and, together with Holdings LLC, the \"Issuers\"). The Notes will be guaranteed on a senior secured basis by Gogo Inc. and all of Holdings LLC's existing and future domestic restricted subsidiaries (other than the Co-Issuer), subject to certain exceptions (collectively, the \"Guarantors\"). The Notes and the related guarantees will be secured by first-priority liens (subject to certain exceptions) on substantially all of the Issuers' and the Guarantors' assets, including pledged equity interests of the Issuers and all of Holdings LLC's existing and future domestic restricted subsidiaries guaranteeing the Notes, except for certain excluded assets and subject to permitted liens. There can be no assurance that the proposed offering of Notes will be completed.\nThe Issuers will use a portion of the net proceeds from the sale of the Notes to redeem all of their outstanding 12.500% senior secured notes due 2022 (the \"Secured Notes\") at a redemption price equal to 100% of the principal amount, plus a make-whole premium and accrued and unpaid interest to (but not including) the redemption date, in accordance with the indenture governing the Secured Notes, to pay related fees and expenses and for general corporate purposes, including the repurchase, retirement or repayment of Gogo's 3.75% Convertible Senior Notes due 2022, in whole or in part, at or prior to maturity.\nThe Notes and the guarantees will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the \"Securities Act\"). The Notes and the guarantees will be offered only to qualified institutional buyers pursuant to Rule 144A under the Securities Act and to non-U.S. persons outside the United States in reliance on Regulation S under the Securities Act.\nThe Notes and the guarantees have not been registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable...