GOL Airlines awarded 2017 Treasury Team of the Year
SÃO PAULO, May 17, 2018 /PRNewswire/ -- GOL Linhas Aéreas Inteligentes S.A. ("GOL" or "Company"), (NYSE: GOL and B3: GOLL4), received the 2017 Airline Treasury Team of the Year Award yesterday. The award was given by the editorial board of Airfinance Journal (AFJ) and recognizes the Company's efforts in right-sizing its balance sheet, enhancing its liquidity and culminating in the US$500 million unsecured bond issue.
GOL's benchmark issue was arranged by global coordinators BofA Merrill Lynch, Credit Suisse, and Morgan Stanley and joint bookrunners BTG Pactual, Evercore ISI, Santander, BCP Securities and Safra. The US$500 million unsecured bond issuance, which was later re-opened for an additional US$150 million (raising the total outstanding to US$650 million) established a number of records for GOL and the sector's unsecured capital markets including:
- The issuance is now the largest outstanding senior unsecured bond tranche for a standalone
Brazilian airline and second largest for an Emerging Markets based airline.
- The deal represents the largest senior unsecured issuance ever priced by GOL.
- The 7% unsecured coupon achieved on the transaction was the lowest ever for GOL.
"This recognition was made possible by the work and dedication of all the GOL team. It's evidence of the results of our successful transformation, which has driven seven consecutive quarters of operating profit growth and significantly strengthened our balance sheet," said Richard Lark, EVP and CFO.
AFJ received more than 150 submissions covering 90 unique transactions (average 10 deals per category), with an aggregate value of approximately US$62 billon. The submissions were then narrowed down to three deals per category by Airfinance Journal's editorial and data experts. The winner in each category was chosen by an independent judging panel of senior aviation finance executives.
As a consequence of improved operating results and the benchmark bond issue, GOL's total liquidity increased 66% during 2017 and reached R$3.2 billion in December. "We will continue to execute our business plan to drive additional improvement to our operations, our balance sheet and return to our shareholders," concluded Richard.
Investor Relations
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www.voegol.com.br/ir
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About GOL Linhas Aéreas Inteligentes S.A.
Brazil's largest airline group. GOL is Brazil's largest airline, carrying 33 million passengers annually on more than 700 daily flights to 65 destinations, 54 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. GOLLOG is a leading cargo transportation and logistics business serving more than 2,400 Brazilian municipalities and, through partners, 205 international destinations in 95 countries. SMILES is one of the largest coalition loyalty programs in Latin America, with over 13 million registered participants, allowing clients to accumulate miles and redeem tickets for more than 700 locations worldwide. GOL has a team of more than 15,000 highly skilled aviation professionals delivering Brazil's top on-time performance, and an industry leading 17 year safety record. GOL's shares are traded on the NYSE (GOL) and the B3 (GOLL4). For further information, visit www.voegol.com.br/ir.
SOURCE GOL Linhas Aéreas Inteligentes S.A.
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