Oi SA postpones debt plan filing

10 Jul 2013

Reuters reports that Oi SA, the Brazilian telecoms group formed through the restructuring of Telemar Participacoes’ former operating divisions Brasil Telecom, Tele Norte Leste Participacoes, Coari Participacoes and Telemar Norte Leste, has submitted a formal request to the local regulator to suspend its planned registered debt offer. In its submission, Oi SA said it had taken the decision due to what it terms ‘the need to adjust the schedule of the offer to fit current market conditions’. The move comes only months after its June announcement that it had requested permission from the regulator for a debt sale that could have reached BRL1 billion (USD442 million).

Brazil, Oi