GOL Linhas Aéreas Inteligentes S.A. has announced the signing of an exit financing commitment letter with select investors as part of its ongoing Chapter 11 restructuring process in the United States. The agreement, subject to conditions including court approval, enables the investors to purchase up to US$1.25 billion of the planned US$1.9 billion debt instruments to be issued under the restructuring plan.
The funds from this exit financing will be used to repay debtor-in-possession financing, cover transaction costs, and support working capital needs as GOL emerges from the Chapter 11 process.
The company also confirmed that it continues to explore additional competitive proposals, including new debt issuance, assumption of debt, or potential equity investments from financial or strategic investors. These efforts aim to strengthen GOL's position as a well-capitalised, standalone business post-restructuring.
As part of the plan, GOL will significantly reduce its debt by converting or extinguishing up to US$1.7 billion of prepetition funded debt and around US$850 million of other obligations. This process is expected to cause significant dilution of existing equity, while respecting shareholders' pre-emptive rights under Brazilian law.
