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Brazil’s GOL gets tenders for $186.63 million 10¾%, 7½% notes so far
By Angela McDaniels
Tacoma, Wash., July 2– GOL Linhas Aereas Inteligentes SA announced the early results of two tender offer being held by its subsidiaries.
Gol LuxCo SA had received tenders for $98,909,000 principal amount, or 54.95%, of its $180 million 10¾% senior notes due 2023 as of the early tender date, 5 p.m. ET on July 1, according to a company press release.
GOL Finance had received tenders for $87,719,000 principal amount, or 41.77% of its $210 million 7½% senior notes due 2017 as of the early tender date.
Gol LuxCo is offering to purchase any and all of its 10¾% notes. GOL Finance is offering to purchase a principal amount of its 7½% notes equal to $150 million less the amount paid to purchase the 10¾% notes.
Per $1,000 principal amount, the payment on the offer is $1,075 for the 10¾% notes and $1,050 for the 7½% notes. These payments include an early tender date of $30 for each note tendered by the early tender date.
Noteholders will also receive accrued interest.
If the aggregate purchase price for the 7½% notes tendered and accepted for purchase exceeds the maximum purchase amount, the amount of 7½% notes purchased will be prorated based on the aggregate principal amount of 7½% notes tendered, regardless of whether those 7½% notes were tendered prior to or after the early tender date.
The tender offers will expire at 11:59 p.m. ET on July 16.
Neither tender offer is conditioned on the tender of any minimum principal amount of notes.
The notes are guaranteed by GOL Linhas and VRG Linhas Aereas SA.
The dealer managers are BofA Merrill Lynch (888 292-0070 or 646 855-8988) and Citigroup Global Markets Inc. (800 558-3745 or 212 723-6106). The information and tender agent is D.F. King & Co., Inc. (888 644-6071, 212 493-6940, +44 (20) 7920-9700 or gol@dfking.com).
The discount air carrier is based in Sao Paulo.
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