Portugal Telecom sets meeting for €400 million 6¼% notes due 2016

By Susanna Moon

Chicago, Feb. 7 - Portugal Telecom, SGPS SA said it will hold a meeting for its €400 million 6¼% notes due 2016 in Lisbon on March 3.

The company is asking holders to approve a measure under the notes, according to a company press release.

Holders may vote by sending their plans to participate to the chairman of the meeting by 5:59 a.m. ET on Feb. 21. Holders must be of record as of Feb. 24.

In order to form a quorum, at least half of the principal amount of the notes must be represented at the meeting. To pass, the measure requires votes from at least three-quarters of those represented.

The solicitation agents are Barclays Bank plc (eu.lm@barclays.com, +44 0 20 3134 8515, attn.: liability management group), BofA Merrill Lynch (john.m.cavanagh@baml.com, +44 0 20 7995 3715, attn: John Cavanagh; karl.bystedtwikblom@baml.com, +44 (0)20 7996 0867, attn: Karl Bystedt Wikblom).

The tabulation agent is Lucid Issuer Services Ltd. (pt@lucid-is.com, +44 0 20 7704 0880, attn: Yves Theis / Thomas Choquet). The principal paying agent is Citibank, NA (ppapayments@citi.com, +3531622 2210, attn: principal paying agent).

Portugal Telecom is a Lisbon-based provider of telecommunications and multimedia services.

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