Brazilian airline GOL has arranged $1.4bn private placement financing, with Abra Group, a holding company that will control GOL and fellow carrier Avianca. Abra will invest up to $451 million cash into the business, and contribute $1.077bn face value of GOL bonds “at a $312.6 million discount to par”, as well as receiving a consideration in the senior secured notes due 2028, which can be replaced on request with exchangeable senior secured notes (ESSNs) also die 2028. The $1.4bn on aggregate total GOL senior secured notes mature in March 2028 and carry an interest rate of 18% of which 4.5%

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