By Wendy Van Sickle
Columbus, Ohio, Oct. 29 – GOL Linhas Aereas Inteligentes SA subsidiary GOL Linhas Aereas SA issued R$887.5 million of unsecured non-convertible debentures to yield Brazilian CDI interbank rate plus 20 basis points, or about 7.68%, according to a press release.
The new issue was part of a liability management exercise under which GOL Linhas also fully amortized R$1.025 billion of debentures, which paid a coupon equal to the Brazilian CDI interbank rate plus 32 bps.
The final principal amortization on the new debentures is to be made on Sept. 28, 2021.
Banco do Brasil and Banco Bradesco led the offering.
“This transaction represents further deleveraging of GOL’s balance sheet and better matches GLA’s operating cash flow generation with the amortization of its liabilities,” said Richard Lark, GOL chief fiscal officer, in the release. “The issuance reduces the company’s cost of debt and improves its credit metrics.”
GOL is a Sao Paulo-based airline.
| Issuer: | GOL Linhas Aereas SA
|
| Issue: | Unsecured non-convertible debentures
|
| Amount: | R$887.5 million
|
| Maturity: | Sept. 28, 2021
|
| Bookrunners: | Banco do Brasil and Banco Bradesco
|
| Yield: | Brazilian CDI interbank rate plus 20 bps
|
| Announcement date: | Oct. 29
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
