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Brazil’s GOL Linhas wraps tender offers for 10¾% notes, 7½% notes
By Susanna Moon
Chicago, July 30 – GOL Linhas Aereas Inteligentes SA said it completed the tender offers for any and all of two series of notes through its subsidiaries, Gol LuxCo SA and GOL Finance.
Investors had tendered $98,909,000, or 54.95%, of the 10¾% senior notes due 2023 and $87,719,000, or 41.98%, of the 7½% senior notes due 2017, according to a company press release.
The figures remain unchanged as of July 16, when the company amended the tender offers to increase the maximum purchase amount and extend the offers from 11:59 p.m. ET on July 16. When the offer began June 19, the company said it would tender for a principal amount of 7½% notes equal to $150 million less the amount paid to purchase the 10¾% 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 5 p.m. ET on July 1, the early tender date.
As previously announced, the total purchase price per $1,000 principal amount was $1,075 for the 10¾% notes and $1,050 for the 7½% notes.
The total amounts include an early tender payment of $30 for each $1,000 of notes tendered by the early tender date.
Those who tendered after the early tender date will receive the total amount less the early payment.
Noteholders will also receive accrued interest.
The tender offers ended at 11:59 p.m. on July 29.
Neither tender offer was 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 were 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 was 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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