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GOL commences partial tender offer.

M2 EQUITYBITES-December 20, 2017-GOL commences partial tender offer


GOL Linhas AAaAaAeA@reas Inteligentes S.A. (NYSE: GOL and B3: GOLL4), Brazil #1 airline, has announced that, following the successful completion of its USD 500 million offering of 7.00% Senior Notes due 2025, Gol Finance has commenced a partial cash tender offer for up to USD 50 million in aggregate principal amount of its 9.250% Senior Notes due 2020, the company said.

It intends to give formal notice to the holders of its 9.50% Senior Secured Amortizing Notes due 2018 (the "2018 Notes"), 9.50% Senior Secured Notes due 2021 (the "2021 Notes") and 9.50% Senior Secured Notes due 2028 (the "2028 Notes" and, together with the 2018 Notes and the 2021 Notes, the "Notes") on or around December 21, 2017 that it plans to redeem (the "Redemption") all of its outstanding 2018, 2021 and 2028 Notes, in each case on or around January 23, 2018 (the "Redemption Date"), in accordance with their respective terms and conditions.

The Tender Offer is scheduled to expire at 11:59 p.m., New York City time, on January 12, 2018, unless extended or earlier terminated (such time, as may be extended, the "Expiration Time"). Holders who validly tender their 2020 Notes at or prior to 5:00 p.m., New York City time, on December 28, 2017 (the "Early Tender Time") will be eligible to receive USD 1,020 for each USD 1,000 principal amount of 2020 Notes, plus accrued interest. Holders who validly tender their 2020 Notes after the Early Tender Time but at or prior to the Expiration Time will be eligible to receive USD 990 for each USD 1,000 principal amount of 2020 Notes, plus accrued interest. Gol Finance intends to pay the purchase price for the 2020 Notes using a portion of the proceeds from the offering of the 2025 Notes.

Gol Finance has engaged Credit Suisse Securities (USA) LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated to act as the dealer managers (the "Dealer Managers") in connection with the Tender Offer.

Brazil's largest airline group. GOL is Brazil's largest airline, carrying 33 million passengers annually on more than 700 daily flights to 63 destinations, 52 in Brazil and 11 in South America and the Caribbean, on a fleet of 120 Boeing 737 aircraft, with a further 120 Boeing 737 MAX on order.

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Publication:M2 EquityBites (EQB)
Geographic Code:3BRAZ
Date:Dec 20, 2017
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