Embraer sells $500m in notes with 5.15% coupon

London
Source: Flightglobal.com
This story is sourced from Flightglobal.com

Embraer sold yesterday $500 million of senior unsecured notes due 2022 at a coupon of 5.15% to fund general corporate purposes, including the production ramp-up of its business jet programmes.

The notes were rated "Baa3" and "BBB-" by Moody's Investors Service and Standard & Poor's, respectively.

Moody's notes Embraer may be called on to provide vendor financing, but it anticipates total funding and commitments will stay at manageable levels.

Morgan Stanley, Citigroup, and Banco Itaú were the joint bookrunning managers for the sale.