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Brazilian carrier Gol received US court approval for a $1bn loan during its ongoing bankruptcy process, after it was able to resolve the concerns of its lenders. Objecting lenders who had previously loaned to the company, feared being sidelined by the new loan. The company had previously proposed borrowing $950mn of which $350mn was approved by the court in January. Earlier, Gol had filed for bankruptcy in January this year.
GoL’s bonds continue to trade at deeply distressed levels of 11-13 cents on the dollar.
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