The parent of Brazilian telecoms operator Oi (Telemar), Tele Norte Leste Participacoes, reportedly plans to issue senior unsecured bonds worth USD1.5 billion in the foreign market, writes BNamericas citing a report in local newspaper Valor Economico. It is understood the notes will be issued in three tranches, maturing in 2014, 2019 and 2038, respectively. The size of each specific placement will be determined at a later date and the funds raised will be used for the acquisition of fellow telecoms group Brasil Telecom – subject to the deal receiving the necessary regulatory go-ahead from the government. The banks coordinating the issue will be Citi, Santander, Bradesco’s investment bank BBI, BB Securities and Itau BBA.

Source:telegeography