Oi to offer BRL3bn through bond sale

16 Nov 2009

Telemar Norte Leste (TNL), the operating unit for Brazil’s largest telco by subscribers Oi, announced last Friday it plans to sell up to BRL3 billion (USD1.72 billion) of bonds in local capital markets, reports Reuters. TNL plans to sell the debt in two tranches, maturing in five and ten years, the company said in a securities filing, without giving other terms of the bond offering. The telco will submit the bond sale plans for a vote in a general shareholders meeting on 30 November 2009.

Brazil, Oi