47861
Debt Relief Plan for Brazil’s Oi
Debt Relief Plan for Brazil’s Oi

Debt Relief Plan for Brazil’s Oi

Debt Relief Plan for Brazil’s Oi

Banks and bondholders accounting for more than half of Oi SA’s debt of 65.4 billion reais ($20 billion) are considering proposing a 5-year grace period and lower borrowing costs to speed up the Brazilian phone carrier’s in-court reorganization, a person with direct knowledge of the talks said, Reuters reported. The person, who requested anonymity because the discussions are preliminary and remain confidential, said the bondholder group advised by Moelis & Co and a number of lenders, including state-run Banco do Brasil SA and China Development Bank Corp, are discussing several options to provide Oi with a debt relief plan. Oi, Brazil’s No. 1 fixed-line phone carrier, filed in June for the country’s largest ever in-court reorganization plan after it ran out of time to reorganize operations and restructure liabilities during a harsh recession. Oi owes 17 billion reais to banks and about 35 billion reais to bondholders.

Short URL : http://goo.gl/erzoGx
  1. http://goo.gl/mu1EBu
  • http://goo.gl/VTsK3n
  • http://goo.gl/lGLr3U
  • http://goo.gl/ZrzDGQ
  • http://goo.gl/OPe4xr

You can also read ...

Debt to GDP ratios across the OECD averaged 73% last year and its members are set to borrow $14.67 trillion from the markets this year.
The world economy is at risk from a rising tide of government...
US has accused ABLV of money laundering and breaching  sanctions on North Korea.
The European Central Bank said Saturday it has determined that...
S&P Ups Russia to Investment Grade
Russia received a long-awaited upgrade to its sovereign rating...
China’s Geely Buys $9 Billion Daimler Stake
The founder of Zhejiang Geely Holding Group Co. has...
Mexico Hosts 39 Million Tourists, Earns $21 Billion
Mexico saw record revenues from international tourism in 2017...
Thorny issues such as content rules for  cars remain unsolved.
It’s looking increasingly likely Nafta talks will extend...
Peru Deficit Narrows
Peru had a current account deficit of 1.3% of the gross...
Manafort Indictment Spells Trouble for Bankers
Recently filed federal charges against President Donald Trump’...

Trending

Googleplus