Azul(AZUL) Prnewswire·2025-01-16 12:00Core Viewpoint - Azul S.A. has extended the expiration deadline for its exchange offers for existing senior secured notes, allowing more eligible holders to participate in the exchange process [1][3]. Summary by Sections Exchange Offers - The exchange offers involve the existing 11.500% Senior Secured Second Out Notes due 2029 and 10.875% Senior Secured Second Out Notes due 2030, which are being exchanged for newly issued notes of the same type [1]. - The expiration deadline has been extended from January 15, 2025, to January 21, 2025, providing additional time for eligible holders to tender their existing notes [3]. Participation Results - As of the original expiration deadline, 98.02% of the existing 2029 notes and 94.42% of the existing 2030 notes had been validly tendered for exchange [4]. - The total valid tender for both series of existing notes reached 95.48% [4]. Conditions for Completion - The completion of the exchange offers is contingent upon receiving valid tenders representing at least 95% of the aggregate principal amount of both series of existing notes, which has been satisfied [5]. - Additional conditions include amendments to the indenture governing the convertible debentures and the issuance of at least $500 million in aggregate principal amount of superpriority notes [10]. Consent Solicitation - Simultaneously with the exchange offers, a solicitation of consents from eligible holders was conducted to effect proposed amendments to the existing notes indenture, with requisite consents received to proceed [8][9]. Company Overview - Azul S.A. is the largest airline in Brazil, operating over 1,000 daily flights to more than 160 destinations with a fleet of over 180 aircraft [21]. - The company has been recognized for its operational excellence, being named the most on-time airline in the world in 2022 and awarded the best airline in the world by TripAdvisor in 2020 [21].