March 6, 2018 / 12:46 PM / 8 months ago

Brazil's Oi board approves terms of $3.81 bln capitalization - filing

SAO PAULO, March 6 (Reuters) - The board of Brazilian telecommunication company Oi SA has approved the terms of a debt-for-share swap under the company's reorganization plan, setting 7 reais per share as the value for the capitalization.

The plan will involve issuance of up to 1,756,054,163 shares, corresponding to a maximum amount of 12.292 billion reais ($3.81 billion). Under the deal, unsecured bondholders will be able to participate in the capitalization of Oi by swapping a portion of their debt securities for shares in the company, the filing said.

In January, a Brazilian federal judge gave his blessing to Oi's reorganization after Brazil's top fixed-line telephone operator filed for bankruptcy in June 2016.

$1 = 3.2231 reais Reporting by Ana Mano

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below