January 23, 2019 |
Brazil's Algar Telecom said it plans to issue BRL350m ($92.5m) in debentures in the local market, with the proceeds going to fund new investments.
The telecommunications company will divide the issue into one series of five-year notes and another series of seven-year notes, S&P Global Ratings said in a report.
Algar will likely keep investment levels around BRL700m per year and maintain an EBITDA margin between 36% and 38%, as it sticks its debt level to around two times EBITDA and holds f
Brazilian telecom looks to raise $93m to help fund $184m in annual investments