Brazil’s Gol Secures $1.9 Billion to Fund Chapter 11 Exit

Gol Linhas Aereas Inteligentes SA, a Brazilian airline, secured commitments for $1.9 billion to fund its exit from Chapter 11, according to a filing, one week after announcing a capital increase.

The company will sell new debt securities, with anchor investors agreeing to buy $1.25 billion, an ad hoc group of credit committing $50 million and other investors buying up $570 million. The plan also includes $30 million in new money through a rights offering. The financing plan is still subject to court approval, the documents show.

The funds will be used to repay to the company’s debtor-in-possession ...