Oi Gets Second Loan To Finance Merger

The parent company of Brazilian telecoms operator Oi has acquired a loan of BRL4.3bn (US$2.7bn) from the Banco do Brasil in order to fund its take-over of Brasil Telecom. Telemar Norte Leste, Oi's parent company, agreed the loan with Brazil's biggest bank for a term of eight years. The company will begin payments in 2010 and will pay a 1.3 percentage point spread over the interbank CDI (Certificado de Depósito Interfinanceiro) rate, 12.09% as at July 15.

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