Brazilian domestic airline GOL Linhas Aéreas Inteligentes S.A. has announced it has received the 2019 Americas Equity Deal of the Year award from the Airline Economics Aviation, the company said.
GOL was recognized for the issuance of USD 345 million in 3.75% Exchangeable Notes due 2024 and concurrent Equity Offering.
The GOL Convert represents the first transaction of its kind for a Brazilian issuer and the first for a Latin American airline. The original deal priced at the lowest coupon and yield ever achieved by the Company and the reopening of the transaction priced with a negative yield, as a result of GOL´s improved credit and equity risk perception by the market. The deal also allowed GOL to extend its maturity profile while simultaneously reducing its borrowing costs and creating a channel for financing in GOL´s capital structure.
GOL´s issue was arranged by global coordinators BofA Securities, Evercore ISI and Morgan Stanley and joint bookrunners BTG Pactual, Deutsche Bank, Credit Agricole, BCP Securities, Nomura, BBI, Santander, Buckingham Research Group and Banco do Brasil.
GOL is Brazil´s largest airline group with three main businesses: passenger transportation, cargo transportation and coalition loyalty program.