Source - RNS
RNS Number : 5714L
Portugal Telecom Intnl Fin BV
03 October 2016
 

PORTUGAL TELECOM INTERNATIONAL FINANCE B.V. em recuperação judicial (subject to Brazilian in-court restructuring proceedings) 

(the "Issuer")

NOTICE

to the holders of the following securities:

€500,000,000 4.375 per cent. Notes due 2017

(ISIN: XS0215828913)

€250,000,000 5.242 per cent. Notes due 2017

(ISIN: XS0441479804)

€750,000,000 5.875 per cent. Notes due 2018

(ISIN: XS0843939918)

€750,000,000 5.00 per cent. Notes due 2019

(ISIN: XS0462994343)

€1,000,000,000 4.625 per cent. Notes due 2020

(ISIN: XS0927581842)

€500,000,000 4.5 per cent. Notes due 2025

(ISIN: XS0221854200)

€400,000,000 6.25 per cent. Notes due 2016

(ISIN: PTPTCYOM0008)

(together, the "Notes")

issued by the Issuer under its €7,500,000,000 Euro Medium Term Note Programme

and guaranteed by

Oi S.A. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

("Oi")


Suspension of payment proceedings commenced with respect to PTIF

 

On 3 October 2016, the District Court of Amsterdam, The Netherlands granted the request of the Issuer for the commencement of suspension of payment proceedings in The Netherlands.  The suspension of payment proceedings were initiated in order to ensure compatibility in The Netherlands with the judicial reorganization in Brazil with respect to Oi and certain of its subsidiaries, including the Issuer. The (provisionally) granted suspension of payment proceedings provide the Issuer with a stay against creditor action in The Netherlands to allow it to restructure its debts with the ultimate aim of satisfying its creditors.  Among other matters addressed by the order of the District Court of Amsterdam, The Netherlands, Mr. J.L.M. Groenewegen of CMS in Amsterdam was appointed as administrator (bewindvoerder) to oversee the Issuer's (provisionally) granted suspension of payment proceedings in The Netherlands and the interests of PTIF's creditors in cooperation with PTIF's managing board.

All material documents relating to the commencement of the suspension of payment proceedings with respect to the Issuer are being translated into Portuguese and English and will be made available for inspection at Oi's headquarters during normal business hours and on Oi's website (www.oi.com.br/ri).  The Portuguese versions of the documents will also be available via the CVM's IPE System Module Empresas.NET (www.cvm.gov.br) and the BM&FBovespa website (www.bmfbovespa.com.br). PTIF's administrator will publish the documents and their translations, and going forward other relevant information for PTIF's creditors on a dedicated website at www.cms-dsb.com/ptif. 



 

For more information, please contact:

 

Portugal Telecom International Finance B.V. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

Carlos Augusto Machado Pereira de Almeida Brandão

E-mail: [email protected] 

Telephone: + 55 21 3131-2918

 

The administrator

Mr J.L.M. Groenewegen

CMS

PO Box 94700

1090 GS Amsterdam

The Netherlands

E-mail: [email protected]

Telephone: +31 20 3016 311

 

 

3 October 2016


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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