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Wireless

Nextel Brazil banks agree to waive covenants til June

Wednesday 1 March 2017 | 16:46 CET | News
Nextel Brazil has entered into amendments to its credit agreements with Banco do Brazil and Caixa Economica Federal. Additionally, Nextel Brazil has secured waivers from each of these lenders related to certain financial covenants in its local bank loans. The amendments provide, among other things, a 120-day standstill period effective 2 March, during which time no amortization payments will be required with respect to the related loans while Nextel Brazil seeks to negotiate long-term modifications of the financing arrangements. Separately, the lenders have agreed to waive Nextel Brazil's

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Categories: Mobile & Wireless
Companies: Nextel
Countries: Brazil
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