GOL secures USD68m financing over 7 years

2 July 2014

GOL Linhas Aereas Inteligentes S.A. (NYSE: GOL) said it has closed a financing of USD68m with Credit Agricole Corporate and Investment Bank (Ca-Cib), guaranteeing 12 proprietary spare CFM56-7B engines, with the possibility of increasing an additional USD100m for future proprietary engine deliveries.

The financing is over seven years at a cost of Libor+225bps, with quarterly amortizations of the principal and interest as of September 2014. The operation is in line with GOL´s strategy of maintaining high liquidity and making rational use of this liquidity in order to reduce the cost of the company´s debt.

GOL Linhas Aereas Inteligentes offers around 910 daily flights to 67 destinations in 15 countries in South America, Caribbean and the United States under the GOL and VARIG brands.

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