• Categories
  • Archives

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

Brazil’s Sugar Association Renews Appeals for Cut on US Ethanol Import Tax

Brazil's UNICA, the Brazilian Sugarcane Industry Association, congratulated the U.S. Environmental Protection Agency's decision ...

Queen Talks About UK’s Increasing Appetite for All Things Brazilian

The first day of the state visit Brazilian President Luiz Inácio Lula da Silva ...

Disgusted passenger in Brazilian airport

Lula Lets Brazilians Down by Failing to Exercise His Authority

Under article 42 of Brazil’s constitution, the armed forces "based on hierarchy and discipline" ...

Agrarian Reform Being Delivered As Promised, Says Brazil

The Brazilian Minister of Agrarian Development, Miguel Rossetto, said that, through September, the government’s ...

Tired of Waiting for Government Action Brazilian Indians Take Over Land

Tupinikim and Guarani Brazilian Indians who live in the southeastern state of EspÀ­rito Santo ...

Fiat Has Big Plans for Brazil and US$ 6 Billion to Implement Them

Italian car manufacturer Fiat announced this week that it plans to invest 3 billion ...

Brazil’s Lula Stands Up for Ministers Charged With Corruption

Brazilian President Luiz Inácio Lula da Silva defended, Thursday, August 25, the Ministers of ...

Afrobrazilianists: Such Arrogance!

Brazilian progressive blacks are doing what they can to allow us to reach the ...

Brazil Wants a More Competitive War Industry

Brazil’s Vice-President and Minister of Defense, José Alencar, claimed yesterday that Brazilian companies that ...

Brazil, in the Forefront of Leather Fashion

Taking place in the largest leather and shoe hub in Brazil, in Novo Hamburgo, ...