By Marisa Wong
Morgantown, W.Va., Sept. 23 – GOL Linhas Aereas Inteligentes SA announced that subsidiary VRG Linhas Aereas SA will issue R$1.05 billion of four-year debentures to the public in a single series on Sept. 29.
Interest will be equal to 132% of the accumulated variation of the average daily one-day, over extra grupo interbank deposit rate.
The debentures will amortize in four annual installments as follows: R$100 million on Sept. 29, 2016, R$150 million on Sept. 29, 2017, R$400 million on Sept. 29, 2018 and the balance on Sept. 29, 2019.
Proceeds will be used to restructure VRG’s financial liabilities exclusively through the full early redemption of its fourth and fifth debenture issues.
| Issuer: | VRG Linhas Aereas SA
|
| Guarantor: | GOL Linhas Aereas Inteligentes SA
|
| Issue: | Debentures
|
| Amount: | R$1.05 billion
|
| Maturity: | Sept. 29, 2019
|
| Coupon: | 132% of the accumulated variation of the average daily one-day, over extra grupo DI rate
|
| Announcement date: | Sept. 23
|
| Settlement date: | Sept. 29
|
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