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Bond Market News
Gol Secures $1.9bn in Financing Support
May 19, 2025
Gol secured a financing of $1.9bn to exit the Chapter 11 bankruptcy process, according to a filing by the company. The exit loan involves a 5-year term with the interest rate reduced to 14.375% from 14.625% due to demand from investors. The update follows the announcement of an agreement by the company with key creditors earlier this month. In late-March, Gol had secured $1.25bn in financing from investors including firms like Castlelake and Elliott Investment Management. Gol has been under bankruptcy protection since early-2024.
Its 8% 2026s has seen a massive drop since the beginning of the month and currently trades at deeply distressed levels of 16-17 cents on the dollar.
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