Brazil’s Gol Expecting to Raise Up to US$ 350 Million in Global Market

Gol Brazilian Airline Brazilian Airline Gol has filed a registration statement with the Securities and Exchange Commission for a proposed global offering of preferred shares, including preferred shares in the form of American depositary shares ("ADSs"), by the Company and ASAS Investment Fund, the Company's controlling shareholder.

Gol expects the gross proceeds from the primary portion of the global offering to be between 550 million reais (US$ 300 million) and 650 million reais (US$ 350 million), depending on market conditions.

The offering of preferred shares in Brazil will be registered with the Comissão de Valores Mobiliários, the Brazilian securities commission.  ASAS Investment Fund will invest the entirety of the proceeds (excluding proceeds from the sale upon the exercise of any over-allotment options, if any) received from the sale of preferred shares, including in the form of ADSs, in common shares newly issued by the company.

The company intends to use the proceeds from the global offering and the concurrent subscription of common shares by ASAS Investment Fund primarily for general corporate purposes and to strengthen its balance sheet, particularly its cash and cash equivalents position.

The international offering will be led by BofA Merrill Lynch, Banco Itaú BBA, Morgan Stanley and Bradesco BBI, as joint bookrunners.  BB Securities Limited is acting as placement agent outside the United States.

A registration statement relating to the offering of these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

When available, copies of the preliminary prospectus may be obtained by contacting BofA Merrill Lynch, 4 World Financial Center, New York, NY 10080, Attention: Prospectus Department (collect call 1-212-449-1000); Itaú USA Securities, Inc. at 540 Madison, 23rd Floor, New York, NY 10022, Attention: Prospectus Department//Renata Comeaux  (collect call 1-212-710-6756); Morgan Stanley & Co. Incorporated, 180 Varick Street, 2nd Floor, New York, New York 10014, Attention: Prospectus Department (toll free 1-866-718-1649, or prospectus@morganstanley.com); or Bradesco Securities Inc. at 126 East 56th Street, 9th Floor, New York, NY 10022, Attention: Prospectus Department (collect call 1-212-888-9142).

Gol Linhas Aereas Inteligentes S.A. offers around 800 daily flights to 49 destinations that connect all the important cities in Brazil and nine major destinations in South America. The company operates a fleet of Boeing 737 Next Generation aircraft.

Tags:

You May Also Like

Hectic Brazil: Hosting Mercosur Summit and 33-Country Conference

The Mercosur summit in Salvador, capital of the Brazilian northeaster state of Bahia, is ...

LETTERS

Close to 19 million adult Brazilians have become tired of waiting for government help ...

Brazilian Steel Production Is Down 10% This Year

Brazil produced 2.5 million tons of raw steel in May, 3.3% more than in ...

Experts Afraid Flu Might Wipe Out Tribe of Uncontacted Amazon Indians

Highly vulnerable uncontacted Indians who recently emerged in the Brazil-Peru border region have said ...

Brazil’s Vehicle Production Falls 3.7% While Coffee Exports Rise 17%

Compared with December of last year, Brazil’s vehicle production dropped by 3.7% in January. ...

We Brazilians Are Deaf, Incapable of Feeling Indignation

Thanks to a project of Workers Party Senator Ideli Salvatti of Santa Catarina State, ...

Air Traffic Grows 13% in Brazil

Air traffic continues its expansion in Brazil. According to data released by the National ...

Lula Eats Chicken in Public and Says Brazilians Have no Reason to Fear Bird Flu

In his weekly radio broadcast to the nation Café com o Presidente, Brazilian President ...

Toil for Tots

Low wages and unemployment are mainstream concerns in Brazilian society but their most painful ...

Brazilian Bar Association Ready to Call for Lula’s Impeachment

The Brazilian Bar Association (OAB) decided, Monday, November 7, to create a commission to ...