Oi to pay down debt after mobile unit sale

Oi to pay down debt after mobile unit sale

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

Brazilian telecommunications company Oi said Wednesday it will use the proceeds from the sale of its mobile phone division to fund the buyback of up to $880 million in 8.75% 2026 bonds. Oi has offered to pay $1,029.17 for every $1,000 in principal by the deadline on April 20, it said in a press release. Brazil's anti-trust regulator CADE approved in February the BRL16.5 billion ($3.52 billion) sale of Oi Móvel to three other operators – TIM Brasil, Vivo and Claro – but it imposed some restrictio

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