Oi raises debt for fiber optic unit

Oi raises debt for fiber optic unit

Corporate & Sovereign Strategy Debt Debenture M&A Economy & Policy Latin America South America Brazil Capital Markets Project & Infrastructure Finance Telecoms Mobile Fixed-Line

Brazilian telecommunications company Oi said late Thursday that it sold BRL2.5 billion ($464 million) worth of debentures to finance investments by its fiber optic unit InfraCo, which is for sale under the company's bankruptcy plan. Oi subsidiary Brasil Telecom Comunicação Multimídia (BTCM) issued the two-year convertible debentures at the IPCA consumer price index plus 11% and set aside the proceeds to develop of a fiber optic network in Brazil, Oi said in a securities filing. Canada's Brookfie

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