TAM Lines Up BRL600m 2013 Sale

Brazilian airline TAM says its wholly owned subsidiary TAM Linhas Aereas will make its first public issuance, of BRL600m in 2013 notes. The sale date is July 24 and the bonds are guaranteed by fiduciary assignment of receivables and by an additional surety guarantee. The deal amortizes in 13 quarterly and consecutive payments, to be made the 24th day of the months of January, April, July and October of each year, with the first payment due on July 24 2010. Planner is the fiduciary agent, while BB Banco de Investimento is lead coordinator and Bradesco is a designated issuance bank. Proceeds are for working capital.