December 24, 2019
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
Oi Móvel looks to raise $612 mln from the sale of two-year notes with average interest rates above 13%