Oi S.A. - In Judicial Reorganization Announces Expiration Of

Oi S.A. - In Judicial Reorganization Announces Expiration Of, And Receipt Of Required Consents In Connection With, The Consent Solicitation For 10.000%/12.000% Senior PIK Toggle Notes Due 2025


– In Judicial Reorganization (the "
Company"), an integrated telecommunication service provider in Brazil, announced today that it received the required consents from the holders of the 10.000%/12.000% Senior PIK Toggle Notes due 2025 issued by the Company (the "
Notes") for the adoption of certain proposed amendments as set forth below (the "
Proposed Amendments") to the New York law indenture, dated as of July 27, 2018, governing the Notes (the "
Indenture"), in connection with the previously announced consent from holders of the Notes (the "
Consent Solicitation").
The Company sought proposed amendments to align certain provisions of the Indenture with the terms of Amendment to the Judicial Reorganization Plan, approved by the Company's creditors on September 8, 2020 and ratified by the 7th Corporate Court of the Judicial District of the State Capital of Rio de Janeiro on October 5, 2020, which we believe will ensure the operational viability, greater financial flexibility and efficiency and the sustainability of the Company's business by implementing its strategic plan and creating value for all of its stakeholders, in connection with Section 6.18 of the Amendment to the Judicial Reorganization Plan, as described in the consent solicitation statement of the Company, dated February 18, 2021 (the "

Related Keywords

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