Brazilian fixed-line operator Embratel has gained approval from its shareholders to forge ahead with a non-convertible bond issue. This follows an announcement by the Telmex subsidiary that it was to issue R$3.15bn (US$1.8bn) and R$350m (US$200m) in…
Brazilian fixed-line operator Embratel has gained approval from its shareholders to forge ahead with a non-convertible bond issue. This follows an announcement by the Telmex subsidiary that it was to issue R$3.15bn (US$1.8bn) and R$350m (US$200m) in bonds.
The bonds will be in two series, A and B, worth R$3.15bn and R$350m respectively.
Series A bonds will mature in three years while series B will mature in four years.
The advisors on the transaction were Citibank, Bradesco BBI and BTG Pactual.
Embratel did not respond for comment by the time of going to press.
