Avianca and GOL to raise millions in their stock markets

Written by thomas · Filed Under Commercial 

September 2, 2009

thomas

By coincidence, both carriers have announced offers to raise $247 million and $354 million respectively through the issuing of bonds and shares. Avianca successfully placed a $247 million bond offering earlier this week. The initial offer has already been sold, and a second offering is to be launched for an additional $100 million. The airline announced it will be using the proceeds to acquire 34 additional aircraft. GOL presented its plan to raise $354 million which is designed to improve the airline’s financial structure. It has retained ItauBBB, the Bazilian banks investment arm as well as Merrill Lynch to help with the offer.

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