Avianca releases IPO terms

Avianca Holdings plans to raise $504 million by offering 27.2 million ADSs (54% insider) at a price range of $17 to $20. Taking a midpoint average, the airline company will be valued at $2.3 billion.

Avianca Holdings plans to list on the NYSE under the symbol AVH. JP Morgan, Citi, Bank of America Merrill Lynch, UBS Investment Bank, BTG Pactual and Deutsche Bank are the joint bookrunners on the deal.