GOL Concludes Distribution of VRG Linhas Aéreas S.A.
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South America,
GOL Transportes Aeros
GOL Linhas Aéreas Inteligentes S.A. Latin America's biggest low-cost airline and the controlling shareholder of the Brazilian Airline VRG Linhas Aéreas S.A. (VRG), announced today the distribution of VRG's 3rd series of secured non-convertible debentures (Debentures) in the amount of R$400 million.
The Debentures were distributed in Brazil only, exclusively to qualified investors, pursuant to Instruction 476 issued by the Brazilian Securities and Exchange Commission (CVM) on 16-Jan-2009(CVM Instruction 476).
The issue was undertaken in a single series of R$ 400 million, partially secured by the fiduciary sale of receivables.
The Debentures will pay 126.50% of the Brazilian CDI rate and will be amortized in 18 consecutive monthly payments, with a 6-month grace period, beginning in the 7th month after the issue date, and mature on 13-May-2011. The issuer may redeem the Debentures at any moment at its own discretion.
GOL's Chief Financial and Investor Relations Officer explained
"This operation is part of the reconstruction of the Company's cash position, aimed at achieving cash and cash equivalents of R$ 800 million by the close of 2009,"
(c) Centre for Asia Pacific Aviation. Date posted: 28-May-09
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GOL Concludes Distribution of VRG Linhas Aéreas S.A. 
