SAO PAULO (Reuters) -Brazilian airline Gol has postponed the deadline for investors to analyze proposals for a $1.9 billion financing, it said in a statement on Tuesday, citing the volatility created by tariffs imposed by U.S. President Donald Trump. The deadline for the so-called “exit financing” from the firm’s judicial reorganization process was postponed from […]
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Brazil’s Gol postpones deadline for proposed $1.9 billion financing
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SAO PAULO (Reuters) -Brazilian airline Gol has postponed the deadline for investors to analyze proposals for a $1.9 billion financing, it said in a statement on Tuesday, citing the volatility created by tariffs imposed by U.S. President Donald Trump.
The deadline for the so-called “exit financing” from the firm’s judicial reorganization process was postponed from April 19 to May 15, the statement said.
Potential Gol investors were notified about the extension by Seabury Securities, which acts as the investment bank for the company due to “significant fluctuations” caused by the tariffs announced by Trump on April 2, Gol said.
The disclosure was mandatory amid the judicial reorganization process Gol is undergoing in the United States, the firm said, noting that if market conditions improve the deadline for binding commitments from investors could be brought forward.
(Reporting by Alberto Alerigi Jr.; Writing by Isabel Teles; Editing by Kirsten Donovan and Mark Porter)