By Luciana Magalhaes
SAO PAULO (Reuters) – Brazilian airline Gol on Thursday introduced that it has struck a brand new cope with key collectors, paving the best way for the corporate to emerge from Chapter 11 chapter safety seemingly by the top of June.
The settlement, which entails buyers holding a portion of the airline’s senior secured notes due in 2026, will present $125 million in financing, in accordance with a regulatory submitting.
With the brand new improvement, Gol has now secured not less than $1.375 billion in financing to exit chapter, the submitting confirmed.
Gol stated that assist from this majority group of collectors will considerably enhance the probabilities of its restructuring plan being authorized.
The airline will now modify its restoration plan to mirror the phrases of this new accord, which additionally foresees that collectors who aren’t a part of the investing group can be eligible to obtain as much as $100 million in new debt. These securities won’t be convertible into shares.
Moreover, different buyers exterior of the principle group may have the chance to take part within the financing, with as much as $50 million obtainable, Gol stated within the submitting.
The service has been in chapter proceedings since early 2024.
(Reporting by Luciana Magalhaes; Modifying by Andrea Ricci)