Gol issues second series of notes for Delta TechOps engine maintenance

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Brazilian low-cost carrier Gol has issued a second series of guaranteed notes totalling $22.7 million to finance its CFM International CFM56-7B engine maintenance by Delta TechOps.

The two-year term debt, which will total $84.8 million, is guaranteed by the US Export-Import Bank. The second series of notes carry an 0.85% coupon annually.

In July, Gol announced the first series of guaranteed notes, totalling $39.1 million with an interest rate of 1% per annum.

The financing will also help support the strategic partnership between Gol and Delta Air Lines that was formed in early 2011.