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Brazil's Oi Focused on Creditors Meeting, Not on New Investors

Debt-laden Brazilian telecoms provider Oi SA could benefit from a third-party capital injection, but the company should focus on talks between creditors and shareholders before engaging new strategic investors, its chief executive said. In a Monday inter ...

Daily Headline - global.abi.org - 11/13/2017 - 23:17 - 0 comments

Bondholder Group Asks for Court to Intervene in Board of Brazil's Oi

The law firm representing a bondholder group in debt-laden Brazilian telecoms company Oi SA has asked a court to nullify decisions made by the company’s board, according to a copy of the motion seen by Reuters on Wednesday. The motion by law firms includ ...

Daily Headline - global.abi.org - 11/08/2017 - 22:16 - 0 comments

Brazil Regulator Anatel Demands Review of Oi Restructuring Proposal

The head of Brazil’s telecommunications watchdog, Anatel, demanded on Monday that debt-laden carrier Oi SA submit its latest restructuring proposal to the regulator before officially filing it with a bankruptcy court, Reuters reported. Anatel head Juarez ...

Daily Headline - global.abi.org - 11/06/2017 - 22:17 - 0 comments

Brazilian Phone Carrier Oi to Amend Terms to Creditors

The board of Brazil´s Oi SA has approved a change to the restructuring proposal of the debt-laden telecom provider to be submitted to creditors on Monday, the company said in a securities filing. Terms of the proposed changes will be filed by the company ...

Daily Headline - global.abi.org - 11/05/2017 - 20:43 - 0 comments

Odebrecht Oil & Gas Seeks U.S. Bankruptcy Protection

Brazil’s Odebrecht Oil & Gas filed for bankruptcy protection in the U.S. Friday to help implement a previously announced multibillion-dollar debt restructuring, The Wall Street Journal reported. Odebrecht Oil & Gas, an arm of engineering cong ...

Daily Headline - global.abi.org - 11/05/2017 - 20:50 - 0 comments

Shareholder in Brazil's Oi Leans on Distressed Debt Funds for Support

An influential shareholder in Brazil's Oi SA is working with U.S. and UK distressed debt hedge funds to maintain his central role at the telecoms provider as it struggles to emerge from bankruptcy protection, four sources said. The funds, the smalle ...

Daily Headline - global.abi.org - 11/01/2017 - 21:31 - 0 comments

Oi Creditors Offer More Capital for Restructuring

The two largest groups of Oi SA bondholders have agreed to inject more cash into a proposed restructuring of the Brazilian telecom’s debt, two people familiar with the matter said on Friday, in the latest twist in Latin America’s biggest-ever bankruptcy, ...

Daily Headline - global.abi.org - 10/29/2017 - 21:55 - 0 comments

Brazil Intervention In Oi Group No Longer Imminent

The risk of a government intervention in bankrupt telephone group Oi SA has subsided after shareholders gave assurances they would not change its current managers, Brazil’s telecoms regulator Anatel said on Thursday. “Intervention is no longer imminent,” ...

Daily Headline - global.abi.org - 10/26/2017 - 22:58 - 0 comments

Brazilian Phone Carrier Oi Suffers Two Setbacks in Debt Restructuring

Brazilian phone carrier Oi SA faced two setbacks from the government on Monday in its efforts to pull off the country’s biggest-ever in-court debt restructuring, Reuters reported. Brazilian telecoms regulator Anatel rejected the company’s request to swap ...

Daily Headline - global.abi.org - 10/23/2017 - 23:06 - 0 comments

Brazil Judge Gives Creditors More Time to Work Out Oi Restructuring

The judge overseeing phone carrier Oi SA’s bankruptcy case agreed on Friday to give creditors and the company more time to reconcile competing restructuring proposals, 16 months into Brazil’s largest in-court reorganization, Reuters reported. The judge, ...

Daily Headline - global.abi.org - 10/22/2017 - 20:03 - 0 comments

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