São Paulo, December 28, 2017 - GOL Linhas Aéreas Inteligentes S.A. ("GOL"), (NYSE: GOL and B3: GOLL4), Brazil's #1 airline, announced today the early results of the previously announced cash tender offer (the "Tender Offer") by its subsidiary, Gol Finance (formerly known as "Gol LuxCo S.A.") ("Gol Finance"), for up to US$50 million in aggregate principal amount of its outstanding 9.250% Senior Notes due 2020 (the "Notes") (144A CUSIP / ISIN Nos. 38045U AD2/US38045UAD28 and Reg S G3980P AD7/USG3980PAD71). The Tender Offer is being made on the terms and subject to the conditions set forth in the Offer to Purchase and the related Letter of Transmittal, each dated December 14, 2017. The Tender Offer is scheduled to expire at 11:59 p.m., New York City time, on January 12, 2018, unless extended or earlier terminated as described in the Offer to Purchase (such time and date, as the same may be extended, the "Expiration Time").
The amount of Notes that may be purchased in the Tender Offer is subject to a maximum principal amount of US$50 million (the "Maximum Tender Amount"). Tendered Notes may be subject to proration if the aggregate principal amount of Notes validly tendered and not validly withdrawn in the Tender Offer exceeds the Maximum Tender Amount, subject to disclosure and other requirements under applicable law. Gol Finance reserves the right to increase or decrease the Maximum Tender Amount. All Notes tendered at or prior to the Early Tender Time will have priority over Notes tendered after the Early Tender Time.
As of 5:00 p.m., New York City time, on December 28, 2017 (the "Early Tender Time"), according to D.F. King & Co., Inc., the tender agent and information agent (the "Tender Agent and Information Agent") for the Tender Offer, tenders were received (and not validly withdrawn) from holders of Notes representing US$21,191,000 in aggregate principal amount of Notes.
Subject to the terms and conditions of the Tender Offer, holders who validly tendered their Notes at or prior to the Early Tender Time are eligible to receive US$1,020 for each US$1,000 principal amount of Notes accepted for purchase, plus accrued interest. Holders who validly tender their Notes after the Early Tender Time but at or prior to the Expiration Time will be eligible to receive US$990 for each US$1,000 principal amount of Notes accepted for purchase, plus accrued interest.
Payment for Notes validly tendered at or prior to the Early Tender Time and accepted for purchase is expected to be made on December 29, 2017 (the "Initial Settlement Date"). Payment for Notes validly tendered after the Early Tender Time but at or prior to the Expiration Time is expected to be made on January 16, 2018.