Portugal Telecom Intnl Fin BV Event of Default (0070C)
22 Giugno 2016 - 5:53PM
UK Regulatory
TIDM36EN
RNS Number : 0070C
Portugal Telecom Intnl Fin BV
22 June 2016
PORTUGAL TELECOM INTERNATIONAL FINANCE B.V.
(the "Issuer")
NOTICE
to the holders (the "Noteholders") of the following
securities:
EUR500,000,000 4.375 per cent. Notes due 2017
(ISIN: XS0215828913)
EUR250,000,000 5.242 per cent. Notes due 2017
(ISIN: XS0441479804)
EUR750,000,000 5.875 per cent. Notes due 2018
(ISIN: XS0843939918)
EUR750,000,000 5.00 per cent. Notes due 2019
(ISIN: XS0462994343)
EUR1,000,000,000 4.625 per cent. Notes due 2020
(ISIN: XS0927581842)
EUR500,000,000 4.5 per cent. Notes due 2025
(ISIN: XS0221854200)
(together, the "Notes")
issued by the Issuer under its EUR7,500,000,000 Euro Medium Term
Note Programme
and guaranteed by
Oi S.A.
(the "Guarantor")
Reference is made to the trust deed dated 17 December 1998 (as
amended and/or supplemented and/or restated from time to time in
relation to the Notes) (the "Trust Deed") and constituting the
Notes. Capitalised terms not defined herein shall have the meanings
given to them in the Trust Deed.
On 20 June 2016, the Guarantor, in conjunction with the Issuer
and other of its wholly-owned direct and indirect subsidiaries,
(the "Oi Companies"), filed a request for judicial reorganization
of the Oi Companies with the Court of the State of Rio de Janeiro,
pursuant to Art. 51 of Law No. 11,101/05 and Art. 122 of the
Brazilian Corporations Law (the "Proceedings").
The Issuer now informs the Noteholders that on 22 June 2016 the
Trustee certified to the Issuer and the Guarantor that the
Proceedings (including the circumstances resulting therein and the
consequences resulting therefrom) are, in its opinion, materially
prejudicial to the interests of the Noteholders and that an Event
of Default has occurred under Condition 10(a)(viii) of the
Notes.
This Notice is given by:
Portugal Telecom International Finance B.V.
Naritaweg 165
1043 BW Amsterdam
The Netherlands
22 June 2016
This information is provided by RNS
The company news service from the London Stock Exchange
END
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