The board of directors of Brazilian airline Gol Linhas Aéreas Inteligentes SA approved unanimously on Wednesday an offer to repurchase two issuances of global bonds by two subsidiaries, as part of a plan to reduce debt.
In a securities filing, São Paulo-based Gol will offer to buy back all of the U.S. dollar-denominated bonds due in 2017 issued by Gol Finance Ltd and the debt maturing in 2023 sold by Gol LuxCo SA.
In another decision, Gol also approved the amendment of terms of the private placement of local notes, known in Brazil as debentures, issued by the VRG Linhas Aéreas SA subsidiary. Without detailing the changes or terms of the deal, the board authorized the stretching out of maturities and the modification of the expected remuneration for the debentures, according to the filing. (Editing by Lisa Shumaker)