Gol Linhas Aéreas Inteligentes exchange offers

Overview:

• Gol LuxCo has made a number of exchange offers which involved acquiring cash and various LuxCo notes
• In the first swap, Gol LuxCo obtained cash and LuxCo’s 9.5% notes (due in 2018) in exchange for GOL Finance’s 7.5% notes. In the second, Gol LuxCo obtained LuxCo’s 9.5% notes (due 2021) and cash in exchange for Finance’s 9.25% notes, LuxCo’s 8.875% notes and 10.75% notes. In the third, the company obtained LuxCo’s 9.5% notes (due 2028) in exchange for Finance’s 8.75% notes. 
• JPMorgan Securities acted as dealer manager 
• Milbank Tweed Hadley & Mccloy and Mattos Filho Veiga Filho Marrey Jr & Quiroga Advogados advised the issuer.
• Simpson Thacher (John Ericson, Grenfel Calheiros) and TozziniFreire Advogados advised the dealer manager.

Rani Mehta - Journalist - Latin America

Read further analysis of this deal on IFLR.com

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