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Brazil’s GOL Linhas extends tender offers for 10¾% notes, 7½% notes
By Toni Weeks
San Luis Obispo, Calif., July 16 – GOL Linhas Aereas Inteligentes SA said it extended its tender offers for two series of notes through its subsidiaries.
The new expiration date is 11:59 p.m. on July 29, pushed out from 11:59 p.m. ET on July 16. The offers began June 19.
The company is tendering through subsidiary Gol LuxCo SA for any and all of its outstanding 10¾% senior notes due 2023. It is also now tendering through subsidiary GOL Finance for any and all of its outstanding 7½% senior notes due 2017. The company previously said it would tender for a principal amount of 7½% notes equal to $150 million less the amount paid to purchase the 10¾% notes but decided to lift the cap.
As of Wednesday, the company had received tenders for $98,909,000, or 54.95%, of its $180 million 10¾% notes and $87,802,000, or 41.81%, of its $210 million 7½% notes.
The company had previously reported receiving tenders for the same amount of the 10¾% notes and $87,719,000, or 41.77%, of the 7½% notes as of the early tender date, 5 p.m. ET on July 1.
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.
The notes that have been tendered may not be withdrawn, except as may be required by applicable law, the filing said.
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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