Gol Bond Exchange Gets 22% Acceptance, Banks Waive Covenant

  • Exchange to reduce airline’s total debt by $101.2 million
  • About $175 million of $780 million of bonds were tendered

Gol Linhas Aereas Inteligentes SA, Brazil’s biggest airline, said just 22 percent of its overseas bondholders agreed to a debt exchange offer that the carrier said was key to keeping it out of bankruptcy.

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