SAO PAULO, June 28, 2016 /PRNewswire/ -- GOL Linhas Aereas Inteligentes S.A. "GOL" or "Company" (BM&FBOVESPA: GOLL4 and NYSE: GOL), (S&P: CC, Fitch: C and Moody's: Caa3), the largest low-cost and best-fare airline in Latin America, announced on May 3, 2016, that all investors that participate in the voluntary Exchange Offers will receive New Notes guaranteed by spare parts owned by VRG Linhas Aereas S.A. ("VRG").
The New Notes will be guaranteed by the Company and VRG and will be secured by a fiduciary assignment first priority security interest in all spare parts owned now or in the future by VRG and, as a result, will be structurally senior to the extent of the value of the collateral to all of GOL's existing and future unsecured indebtedness, including the Old Notes, and senior to any future subordinated indebtedness that GOL may incur. Old Notes will not benefit from the collateral securing the New Notes, and holders of Old Notes who do not participate in the Exchange Offers will be effectively subordinated to the New Notes. The spare parts are used in the operation of GOL's fleet of Boeing 737-700 and 800 Next Generation aircraft. The Company retained Morten Beyer & Agnew (mba), an internationally recognized expert consultant, to conduct an appraisal of the collateral, which mba valued at US$222.7 million.
The Exchange Offer deadline is Friday, July 1, 2016 at 11:59 PM New York City time. For more information and to participate in the private Exchange Offer, eligible noteholders can visit the following website: www.dfking.com/gol.
Phone: +55 (11) 2128-4700
In Press Porter Novelli
+55 11 94547 7447
Michael Freitag, Meaghan Repko and Dan Moore
Joele Frank, Wilkinson Brimmer Katcher
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SOURCE GOL Linhas Aereas Inteligentes S.A.