Brazil permits TIM to issue infra bonds

Brazil permits TIM to issue infra bonds

Corporate & Sovereign Strategy Economy & Policy Debt Debenture Latin America South America Brazil Capital Markets Telecoms Mobile Politics

TIM Brasil, a subsidiary of the Italian telecommunications company TIM, got approval from the Brazilian government to issue BRL5.75 billion ($1.05 billion) in tax-exempt infrastructure debentures to develop a 5G network in the country, according to an announcement in the official gazette on Friday. TIM will also use the proceeds to "deploy, expand, maintain, recover, adapt and/or modernize" landline and mobile networks in every state and the Federal District. The investments will include install

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