Oi mobile unit dials up local private placement

Oi mobile unit dials up local private placement

Bonds Debt Capital Markets Asset Management Corporate & Sovereign Strategy Fixed Income Telecoms Brazil

Oi Móvel, the mobile phone business of the Brazilian telecommunications company Oi, plans to issue up to BRL2.5 billion ($612 million) in two-year debentures through a private placement in the local market. Backed by personal guarantees from Oi, Oi Móvel and Telemar Norte Leste, the non-convertible notes will carry an interest rate of 12.66% for the first year and rise to 13.61% for the second year, Oi said in a securities filing. Oi, which filed for bankruptcy in 2016, has hired a financial adv

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