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:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Land Reform Hailed in Brazil as Key for Development

The FAO (UN’s Food and Agriculture Organization) secretary general, Jaques Diuf, declared that land ...

What Portuguese Is This?

In Brazil there is almost a total ignorance about the mother nation. After a ...

Indians Advocate Plurinational States Involving Brazil and Neighbors

Indigenous peoples from Brazil and neighboring countries would like to turn Latin American nations into ...

Guarani Indians children from Brazil

Brazilian Indians Don’t Want Handouts But Their Land Back to Grow Food

The situation of extreme poverty and no land to live as faced by the Guarani-Kaiowá ...

Black Bond

Serious remaining economic and social challenges notwithstanding, Brazil appears to have ‘arrived’ although Brazilians ...

10,000 from 14 Countries Expected at Brazil’s Amazon Forum

The general coordinator of the IV Pan-Amazon Social Forum, Adilson Vieira, informed that a ...

20,000 Volkswagen Workers Stop in Brazil to Protest Cuts

More than 20,000 workers in Brazil walked off their jobs, halting assembly lines at ...

Indians Under the Gun in Brazil

Potiguara Indian leaders went to Brasília after being threatened and attacked by the owners ...

Once Again US Says the End of Visas for Brazilians Is Near

In an interview with Brazil’s leading weekly newsmagazine Veja, Thomas A. Shannon, the American ...

Brazil: New Focus Helps Amazonas Reduce Deforestation by 39%

While the total deforested area in the Amazon increased 6% between 2003-2004, according to ...