Shearman And Sterling

News June 16, 2021

Azul’s Rule 144A/Regulation S Offering of $600 Million Senior Notes

Shearman & Sterling advised Azul and its affiliates Azul Linhas Aéreas Brasileiras S.A. and Azul Investments LLP in connection with a Rule 144A and Regulation S offering of US$600 million aggregate principal amount of 7.250 percent senior notes due 2026. The notes were issued by Azul Investments and guaranteed by Azul and Azul Linhas in a transaction in which we worked closely with Joanna Portella, Azul’s General Counsel, Azul’s local Brazilian firm Pinheiro Neto Avogados and Azul’s special Delaware counsel K&L Gates. Azul is the largest airline in Brazil in terms of departures and cities served and in 2020 was named “Best Airline in the World” by Trip Advisor.

The issuance was underwritten in a syndicated transaction that included Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Santander Investment Securities Inc., Banco BTG Pactual S.A. – Cayman Branch, Itau BBA USA Securities, Inc., Banco Safra S.A. – Cayman Islands Branch and UBS Securities LLC.

The Shearman & Sterling team below was supported by Gabriela Laufer and Marina Mendes Correa.

The Team