Brazil’s GOL unit amends terms of fourth, fifth issue debentures

By Marisa Wong

Madison, Wis., June 25 – Brazil’s GOL Linhas Aereas Inteligentes SA said holders of subsidiary VRG Linhas Aereas SA’s fourth and fifth issues of non-convertible debentures decided on changes to the terms of the debentures at a meeting held on June 20.

The debentureholders’ meeting resolved the following:

• To extend the term and alter the amortization amounts of the fourth debenture issue from R$600 million in 2015 to R$150 million in 2015, R$50 million in 2016, R$50 million in 2017 and R$350 million in 2018;

• To alter the restrictive contractual clauses relative to financial indicators and limits for the fourth and fifth debenture issues; and

• To alter the remuneration of the fourth and fifth debenture issues from 118% of the CDI and 120% of the CDI, respectively, to 128% of the CDI.

The airline is based in Sao Paulo.

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