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GOL extends early participation premium for its private exchange offers.

AIRLINE INDUSTRY INFORMATION-(C)1997-2016 M2 COMMUNICATIONS

GOL Linhas Aereas Inteligentes S.A. (BM&FBOVESPA: GOLL4 and NYSE: GOL) is extending the period of the Early Participation Premium until 5:00 p.m., New York City time, on May 27, 2016 in connection with its private exchange offers, the company said.

The deadline for noteholders to receive the Early Participation Premium expired at 5:00 p.m., New York City time, on May 17, 2016. As of 5:00 p.m., New York City time, on May 20, 2016, Eligible Holders had validly tendered USD124,585,000 (R438,165,445) in aggregate principal amount of Old Notes.

In the days following the conclusion of the Initial Early Participation Time, a significant number of noteholders inquired about the Early Participation Premium. Based on this result, and the Company's desire to allow its noteholders to exchange their Old Notes, the Company is making the Early Participation Premium available until the Extended Early Participation Time.

In exchange for each USD1,000 principal amount of the Old Notes that are validly tendered (and not validly withdrawn) at or before the Extended Early Participation Time and accepted for exchange, Eligible Holders will receive the Following Total Exchange Consideration:

2017 Notes: USD210 in cash and USD490 in principal amount of the New 2018 Notes, including the Early Participation Premium of USD15 in cash and USD35 in principal amount of the New 2018 Notes;

2020 Notes: USD70 in cash and USD280 in principal amount of the New 2022 Notes, including the Early Participation Premium of USD10 in cash and USD40 in principal amount of the New 2022 Notes;

2022 Notes: USD70 in cash and USD280 in principal amount of the New 2022 Notes, including the Early Participation Premium of USD10 in cash and USD40 in principal amount of the New 2022 Notes;

2023 Notes: USD70 in cash and USD280 in principal amount of the New 2022 Notes, including the Early Participation Premium of USD10 in cash and USD40 in principal amount of the New 2022 Notes; and

Perpetual Notes: USD300 in principal amount of the New 2028 Notes, including the Early Participation Premium of USD50 in principal amount of the New 2028 Notes.

For each USD1,000 principal amount of the Old Notes that are validly tendered (and not validly withdrawn) after the Extended Early Participation Time but at or before the Expiration Time, 11:59 p.m., New York City time, on June 1, 2016, that are accepted for exchange, Eligible Holders will receive only the applicable Exchange Consideration which is equal to the applicable Total Exchange Consideration less the applicable Early Participation Premium.

GOL will pay, upon closing of the Exchange Offers, all accrued and unpaid interest on the Old Notes exchanged for New Notes.

Gol Linhas Aereas Inteligentes S.A. provides regular and non-regular flight transportation services for passengers, cargoes, and mailbags in Brazil and internationally. The company operates in two segments, Flight Transportation and Smiles Loyalty Program. As of 31 December, 2015, it operated a fleet of 144 aircraft, which included 98 aircraft under operating leases and 46 aircraft under finance leases. It also develops and manages its own or third party's customer loyalty program, as well as sells redemption rights of awards related to the loyalty program. The company has a strategic partnership with Air France-KLM. Gol Linhas Aereas Inteligentes S.A. was founded in 2001 and is based in Sao Paulo, Brazil.

D.F. King & Co., Inc. has been appointed as the information agent and the exchange agent for the Exchange Offer.

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Title Annotation:GOL Linhas Aereas Inteligentes S.A.
Publication:Airline Industry Information
Geographic Code:3BRAZ
Date:May 24, 2016
Words:603
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