Oi agrees debt standstill with BNDES

Monday 20 June 2016 | 16:27 CET | News
Brazilian telecom operator Oi and BNDES signed an agreement for suspension of debt payments for 180 days, reports O Globo. The measure is one of the many actions the company is taking to find a way out with creditors and avoid the risk of bankruptcy. Oi is about BRL 50 billion in debt, of which BRL 9.9 billion with development banks, such as BNDES, and export promotion agencies, according to data for March. BNDES confirmed the signing of the agreement, but provided no details, while Oi did not comment. Negotiations with banks, including Caixa, Itau, Bradesco and Banco do Brasil, are conducted

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Categories: General
Companies: Oi
Countries: Brazil
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