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Brazil airline Gol signs Chapter 11 exit financing commitment

  Copy link into your clipboard //business-finance.news-articles.net/content/202 .. -signs-chapter-11-exit-financing-commitment.html
  Print publication without navigation Published in Business and Finance on by Reuters
          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
Brazilian airline Gol said on Monday it had entered an exit financing commitment with certain investors, without naming them, as it eyed exiting Chapter 11 bankruptcy proceedings.
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Brazilian airline Gol has secured a commitment for $950 million in financing to aid its exit from Chapter 11 bankruptcy protection. This financial backing comes from a group of bondholders and includes a mix of new equity and debt. The funds are intended to help Gol restructure its operations and finances, aiming for a stronger financial position post-bankruptcy. The agreement also involves converting some of Gol's existing debt into equity, which will dilute current shareholders' stakes but is expected to reduce the company's overall debt burden. This move is part of Gol's broader strategy to reorganize and stabilize its business amidst the challenges posed by the global aviation industry's downturn due to the economic impacts of the recent global health crisis.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/companies/brazil-airline-gol-signs-chapter-11-exit-financing-commitment/ar-AA1BxQtN ]
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