Oi approves to issue promisory notes worth $879Mn (Brazil)
Oi, the Brazilian incumbent approves issuing of promisory notes worth $879Mn. The money will be utilized to finance part of the $5.64Bn acquisition of fellow operator Brasil Telecom. The number of promisory notes to be issued in one go are 80, worth $10.84Mn each. The papers maturiy time is one year, yeilding a 3% hike in Brazil’s interbank lending rate.
