GOL Linhas Aereas Inteligentes S.A., the largest low-cost and low-fare airline in Latin America, has closed a financing of US$68m with Credit Agricole Corporate and Investment Bank (“Ca-Cib”), guaranteeing 12 proprietary spare CFM56-7B engines, with the possibility of increasing an additional US$100m 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.
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Mailing Address
AviTrader Publications Corp.
Suite 305, South Tower
5811 Cooney Road
Richmond, BC V6X 3M1
Canada