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Brazil’s Oi to buy back portion of four note series with note proceeds
By Toni Weeks
San Luis Obispo, Calif., June 22 – Oi SA said it has used or will use the proceeds of its offering of €600 million of foreign-currency-denominated 5 5/8% senior notes due 2021 that priced on June 11 and closed on Monday to repurchase portions of four series of notes, according to a 6-K filing with the Securities and Exchange Commission.
Oi will repurchase €56,925,000 of 5 5/8% notes due 2016 issued by Portugal Telecom International Finance BV, €115,877,000 of 4 3/8% notes due 2017 issued by Portugal Telecom and €148,735,000 of its 5 1/8% notes due 2017. The company may also repurchase a portion of 5.242% fixed-rate notes due 2017 issued by Portugal Telecom.
Remaining proceeds will be used to prepay or refinance other company debt.
Oi is a Rio de Janeiro-based telecommunications service provider.
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