Court approves Oi restructuring

Court approves Oi restructuring

Bonds Telecoms Brazil

A Rio de Janeiro-based court has approved a debt restructuring plan from Oi and its creditors, putting into play a change in terms of governance and a debt-to-equity swap for the Brazilian telecom. According to a securities filing from Oi, the restructuring will inject roughly BRL4bn ($1.2bn) in new capital into the company. The agreement, however, will see existing shareholders dilute a portion of its share capital in Oi and gradually hand over control of the company to its creditors. As previo

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