Mattos Filho advises Gol on US$300m note issue

Mattos Filho advised Gol Finance (Luxembourg), Gol Linhas Aereas Inteligentes S.A. and Gol Linhas Aéreas S.A. in this issue of additional notes totaling US$300 million

Gol raised US$ 300 million by reopening an issue maturing in 2026. This operation was made in December 2020 through a private placement that was later sold to investors in the market.

Initially, the company raised $200 million in notes, which were secured by fiduciary alienation of company assets, which included all of Gol’s intellectual property, such as patents, trademarks, brand names, and domains, as well as aircraft spare parts.

Because of the guarantee, the transaction required interactions between the requirements of New York law and the requirements of Brazilian law, as well as the coordination, discussion and structuring, between New York and Brazilian legal counsel, of the perfection of the guarantee.

The invoices were intended to be used by GOL for working capital for the guarantors, for repayment of certain existing debt, and for general corporate purposes.

All this occurred at an extremely sensitive time for Gol due to the impacts of the Covid-19 pandemic in the aviation sector.

Mattos Filho, Veiga Filho, Marrey Jr e Quiroga Advogados represented Gol Linhas Aéreas with partner Bruno Mastriani Simões Tuca (pictured) and associates Raphael Saraiva and Henrique Kasai.