Brazilian holding company Tele Norte Leste Participacoes (TNL) is considering a US$900m bond issue to refinance short-term debt, according to reports citing the Wall Street Journal.
The group is a holding company for local telco Oi, w
The three-month…
Brazilian holding company Tele Norte Leste Participacoes (TNL) is considering a US$900m bond issue to refinance short-term debt, according to reports citing the Wall Street Journal.
The group is a holding company for local telco Oi, w
The three-month notes would pay an annual interest rate of 0.45 of a percentage point over the local interbank rate.
The company will soon be 22.38% directly and indirectly owned by Portuguese incumbent Portugal Telecom, which will carry out a R$12bn (US$7.2bn) capital increase in Oi holding companies Tele Norte Leste (TNL) and Telemar Norte Leste (TMAR).
