SÃO PAULO, Oct. 18, 2019
/PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. ("GOL"
or "Company"), (NYSE: GOL B3: GOLL4), Brazil's premier domestic airline, received
the "2019 Americas Equity Deal of the Year" award from the Airline
Economics Aviation 100 Awards, for the issuance of US$345 million in 3.75% Exchangeable Notes due
2024 and concurrent Equity Offering ("The GOL Convert"). The award
was presented at the InterContinental Barclay in New York, and is considered one of the most
prestigious in the global capital markets.
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.
"The successful placement of the GOL Convert was another step in
our multi-year liability management effort, following successful
deals in the global bond and local debenture markets, all of which
have significantly reduced the Company's cost of capital and
improved its financial flexibility," said Richard Lark, GOL's EVP and CFO. "The
recognition by Airline Economics was made possible by the focus and
dedication of all the GOL team. The award is evidence of the
results of our successful transformation, with operating and
balance sheet strengthening."
GOL has continued to deliver on its deleveraging plan and the
GOL Convert was another example of its focus on interest rate
savings, debt maturity extension, funding diversification and, most
importantly, commitment to "equitizing" of the balance sheet in the
future. This track record has been acknowledged by the
international rating agencies, as Moody's upgraded GOL by two
notches to B+ a month before the GOL Convert placement, while Fitch
upgraded the Company to a B+ rating in the wake of the deal.
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 Investor Relations
ri@voegol.com.br
www.voegol.com.br/ir
+55 (11) 2128-4700
About GOL: Brazil's
largest airline group with three main businesses: passenger
transportation, cargo transportation and coalition loyalty
program.
View original
content:http://www.prnewswire.com/news-releases/gol-airlines-awarded-2019-americas-equity-deal-of-the-year-300941456.html
SOURCE GOL Linhas Aéreas Inteligentes S.A.