Brazil airline Gol signs Chapter 11 exit financing commitment

Reuters

Mon, Mar 24, 2025, 5:02 AM 1 min read

SAO PAULO (Reuters) -Brazilian hose Gol said connected Monday it had entered an exit financing committedness with definite investors, without naming them, arsenic it eyed exiting Chapter 11 bankruptcy proceedings.

Under the deal, the parties person committed to purchasing up to $1.25 cardinal of the $1.9 cardinal indebtedness instruments to beryllium issued arsenic portion of the process, which volition beryllium utilized to repay obligations nether a debtor-in-possession financing.

The wealth volition besides beryllium utilized to wage transaction costs and supply moving superior and different enactment for its concern upon emergence from Chapter 11, the bearer added.

Gol has been successful bankruptcy proceedings since aboriginal 2024.

It noted that successful summation to the exit financing, it was conducting a competitory process to measure alternate transactions, including the issuance of caller indebtedness arsenic good arsenic imaginable equity investments.

Gol reiterated that the program would importantly deleverage its equilibrium expanse portion starring to a important dilution of its existing equity. Sao Paulo-traded shares of Gol were up much than 5% connected Monday.

(Reporting by Isabel TelesEditing by Bernadette Baum and Gabriel Araujo)