Oi Moves Infra Debentures Forward

Oi Moves Infra Debentures Forward

Brazil Bonds

Brazil’s Oi is planning a BRL1.2bn ($585m) domestic bond sale, with a portion of the debt qualifying as infrastructure debentures. The telecom is planning a 2020 tranche paying the DI plus up to 0.85% and an inflation-linked 2023 tranche paying a rate equal to that of the NTN-B bond at the time of pricing plus up to 75bp, according to a filing. The longer tranche would qualify for the tax treatment under Brazil’s infrastructure debenture legislation. The sale may be upsized by as much as BRL420m

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