GOL Linhas Aéreas Inteligentes’ (GOL) previously announced private offer to exchange any and all of its outstanding Senior Unsecured Notes expired on July 1, 2016. The outcome of the Exchange Offers will reduce GOL’s total debt by US$101.2 million (R$326.9 million), with a cash use of US$13.9 million, and provide GOL with annual cash interest expense savings of US$9.3 million. GOL states that this offer, together with the renegotiation of the aircraft leases, amendments to the terms of the Brazilian debentures and other important liquidity measures, will help improve GOL’s capital structure and help ensure that the airline “emerges from

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