By Laura Contemori – ROME (Econostream) – Portuguese airline Transportes Aéreos Portugueses, S.A. (TAP Air Portugal) on Thursday priced €350 million of 4.750% senior notes due June 30, 2031.

The offering was increased by €50 million from the preliminary amount. Gross proceeds totaled €348.073 million.

The notes were priced at 99.44951%, corresponding to a yield to maturity of 4.875% and a spread of 221bp over the DBR 0% due August 15, 2031.

The notes are rated BB- by S&P and Ba3 by Moody’s.

They include a six-month par call, a make-whole call at the Bund rate plus 50bp and a change-of-control put at 101% of principal plus accrued interest.

Proceeds will be used for general corporate purposes and transaction fees and expenses.

An application will be made to list the notes on Euronext Dublin’s Global Exchange Market.

Settlement is scheduled for June 26, 2026.

Citigroup and Crédit Agricole CIB acted as global coordinators and joint bookrunners, while BofA Securities and Morgan Stanley acted as joint bookrunners.