GOL Airlines Awarded 2018 Latin America Bond of The Year by IFR

SAO PAULO, Feb. 11, 2019 /PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company"), (NYSE: GOL and B3: GOLL4), Brazil's premier domestic airline, received the "2018 Latin America Bond" award from the International Financing Review (IFR), for the issuance of US$500m in 7.000% Senior Notes due 2025 ("2025 Notes"). The awards were presented at Grosvenor House in London, and are considered one of the most prestigious in the global capital markets, congregating around 900 of the world's most senior and successful investment banking professionals.

The GOL Finance 2025 Notes were priced at the lowest coupon and yield ever achieved by the Company. Additionally, it was the Company's largest ever unsecured bond issue. GOL's benchmark issue was arranged by global coordinators BofA Merrill Lynch, Credit Suisse, and Morgan Stanley and joint bookrunners BTG Pactual, Evercore ISI, Santander, BCP Securities and Safra. 

Fitch had upgraded GOL by two notches to Single B a month before the bond placement, while S&P upgraded the Company to a B rating in the wake of the deal. "It was a major exercise, which effectively refinanced the majority of GOL's existing unsecured bonds," said Richard Lark, GOL's EVP and CFO.

The transaction highlights GOL's successful work to strengthen its credit profile by lowering interest expense, increasing liquidity and extending tenors in its international debt – also replicated in the Company's local currency debt in 2018, as GOL reduced the coupon on its debentures and amortized principal. GOL has continued to deleverage, as shown in a recent any and all tender offer, in which the Company offered all holders of unsecured bonds due 2022 the option to sell back their bonds at a premium to par.

"This recognition by IFR was made possible by the focus and dedication of all the GOL team. It's evidence of the results of our successful transformation, with relevant operating and balance sheet strengthening," concluded Richard.

GOL Investor Relations
[email protected]
www.voegol.com.br/ir
+55 (11) 2128-4700

About GOL Linhas Aéreas Inteligentes S.A. (www.voegol.com.br): Brazil's largest airline group with three main businesses: passenger transportation, cargo transportation and coalition loyalty program.

SOURCE GOL Linhas Aéreas Inteligentes S.A.