GOL Linhas AÃ©reas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), Brazil´s #1 airline, has announced that the cash tender offer by its subsidiary, Gol Finance, for any and all of its outstanding USUSD 276,730,000 aggregate principal amount of 8.875% Senior Notes due 2022 has expired, the company said.
At the Expiration Time, valid tenders had been received with respect to approximately USUSD 185,197,000 in aggregate principal amount of Notes (which excludes Notes subject to the guaranteed delivery procedures).
Gol Finance expects to accept and make payment for all Notes that were validly tendered, or with respect to which a properly completed and duly executed Notice of Guaranteed Delivery was delivered, at or prior to the Expiration Time, concurrently with the closing of an offering of USUSD 500 million in aggregate principal amount of 7.00% Senior Notes due 2025 (the “New Notes”) in accordance with Rule 144A and Regulation S under the US Securities Act of 1933, as amended (the “Securities Act”), which is expected to occur on December 11, 2017.
Holders of Notes who validly tendered their Notes at or prior to the Expiration Time are eligible to receive USUSD 1,065 per USUSD 1,000 principal amount of Notes. In addition, accrued and unpaid interest from the last interest payment date to, but not including, the settlement date for the Notes will be paid in cash on all validly tendered and accepted Notes.