Brasil Telecom to issue BRL 2 billion in bonds

In order to refinance short-term debt, implement its investment plan and increase working capital, Brasil Telecom said it will launch a ninth bond issue valued at BRL 2 billion. The announcement comes in the same week during which the company completed the issue of BRL 1.5 billion in ten-year bonds abroad. There will be 200,000 bonds with nominal value of BRL 10,000, released in up to two series, the company said in a statement. The first series will mature in five years, while the second series will run for eight years. The coordinators of the offer are Itau BBA (leader), BB Investimentos and Bradesco BBI.