Azul settles public convertible debentures

Azul and its partners have successfully settled its public offering of convertible debentures in Brazil on Nov 12. Azul issuance of guaranteed secured debentures, convertible into preferred shares of the company, was valued at R$1,745,900.00 (US$ 325 million).  The debentures will mature in five years after issuance, are indexed to the US dollar and pay interest of 7.5% in the first year in kind through an increase in the par value of the Debentures (PIK), and thereafter at an interest rate of 6.0% per annum payable semi-annually in cash. The notes will be redeemable, in whole or in part, for