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Gogo Debt Takes Flight on Stronger Earnings

April 16, 2019, 2:54 PM

Gogo Inc.’s double-digit bond yields may be a thing of the past after the airline Wi-Fi provider said better-than-expected preliminary results will allow the company to extend its debt runway.

  • Gogo will issue $900 million of new first-lien notes due 2024 to redeem all of its 12.5% first-lien bonds maturing in 2022 at par, plus a premium, according a statement. It will also retire its 2022 convertibles; the notes rose as much as 2 cents on the dollar to 100.25 cents and its shares jumped as much as 20 percent.
  • Gogo reported preliminary core adjusted earnings of $24 million to ...