GOL Linhas Aéreas has secured a USD1.9bn financing package to complete its exit from Chapter 11 restructuring, with higher funding from new investors than anticipated.
The airline disclosed on May 16 that it will receive USD570m from new investors, increasing from the original plan of USD495.5m due to strong demand.
Negotiations with holders of the 8.00pc senior secured notes reduced their commitment from USD125m to USD50m, allowing GOL to reallocate USD75m to new investors.
The financing interest rate has been lowered from 14.625pc to 14.375pc as a result of high investor demand, with substantial contributions coming from Castlelake and Elliott Investment Management.
A hearing for the approval of GOL’s Chapter 11 restructuring plan is set for May 20, 2025, with the airline expecting to exit restructuring in early June 2025.
