Telemar to defer USD1.22bn debentures issue

3 Feb 2010

Brazilian telecoms operator Telemar Norte Leste (Oi) is looking to postpone a USD1.22 billion non-convertible debentures issue, for up to 60 days, The Wall Street Journal reports. Oi says it needs to disseminate more information to investors concerning its buyout of Brasil Telecom, which it purchased last year. The debentures issue will be underwritten by Oi and Banco Santander Brasil. Telemar had planned to raise the funds in two parts, a five-year issue and a ten-year issue.

Brazil, Oi