In a further expansion of the strategic partnership between GOL Linhas Aéreas Inteligentes and Delta Air Lines, Inc., Milbank, Tweed, Hadley & McCloy LLP represented GOL in:
- a $150 million equity investment by Delta and Fundo de Investimento em Participações Volluto, and
- a 6.5% $300 million five-year term loan with a backstop guaranty from Delta. The backstop guaranty is secured by a pledge of GOL’s shares in Smiles S.A., the loyalty program affiliated with Gol.
Founded in 2000 and based in São Paulo, GOL is the largest low-cost and best-fare airline in Latin America, offering the most extensive and convenient route network in South America and the Caribbean, with almost 900 flights a day to 62 destinations, domestic and international, in 13 countries.
São Paulo Global Securities partners Tobias Stirnberg and Andrew Janszky led the deal team with assistance from Tax partner Andrew Walker and associates Felipe Camara and Fernando Capellão.
