Oi shareholder attempts to foil debt restructuring

Monday 25 July 2016 | 16:59 CET | News
A dissident bondholder of Brazilian operator Oi is trying to foil a USD 19 billion debt restructuring proposed by the bankrupt telecom company's biggest creditors, reports Bloomberg. Hedge fund Aurelius Capital Management is pushing back against a group of about 70 creditors advised by Moelis & Co, which is seeking a wider array of stakeholders to support its plan after a previous effort collapsed earlier this year. The dispute revolves around bonds issued by Oi's subsidiaries, particularly Telemar Norte Leste, which provides telecom services in states including Rio de Janeiro.

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Categories: General
Companies: Oi / Oi (Telemar)
Countries: Brazil
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