São Paulo, December 22, 2022 - GOL Linhas Aéreas Inteligentes S.A. (NYSE: GOL and B3: GOLL4) (“GOL” or “Company” or “GLAI”), Brazil’s largest airline, announces that its subsidiary GOL Finance, a public limited liability company (société anonyme) organized under the laws of Luxembourg, has agreed to issue, subject to certain closing conditions, 5.00% senior secured amortizing notes due 2026 (Series A) and 3.00% subordinated secured amortizing notes due 2025 (Series B) in an aggregate amount of approximately US$200 million. The Notes are guaranteed byGLAI and GOL Linhas Aéreas S.A. (“GLA”), and have an average cost of capital to GOL of 4.3% p.a.
The Notes are being issued in exchange for full satisfaction, at 100% of face value, of certain aircraft leasing payment obligations that are under deferral agreements, among other obligations that the participating aircraft lessors chose to exchange for Notes.
The Notes will have on average a 12 month grace period. Following the grace period, the Series A Notes will amortize in ten equal quarterly installments and the Series B Notes will amortize in nine equal quarterly installments and will be contractually subordinated to the Series A Notes. The Notes are callable by GOL at any time at par and are secured by a fiduciary sale assignment of unencumbered receivables (independently appraised at an aggregate value of R$3.0 billion).