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Business Events Corporate Restructuring

  • BRASILIA/ SAO PAULO, Nov 9- The Brazilian judge overseeing the debt restructuring of telecommunications firm Oi SA has delayed a creditors assembly scheduled for Friday to Dec. 7, allowing banks, regulators, bondholders and shareholders more time to reach a consensus.

  • Nov 8- Creditors reeling from Venezuelan President Nicolas Maduro's recent debt restructuring announcement are balking at his proposal to kick off the talks in Caracas, citing U.S. sanctions and security fears. But even non-U.S. based investors are demanding to meet in what they say would be a neutral and safer location such as London, Paris, New York or a...

  • Nov 8- Creditors reeling from Venezuelan President Nicolas Maduro's recent debt restructuring announcement are balking at his proposal to kick off the talks in Caracas, citing U.S. sanctions and security fears. But even non-U.S. based investors are demanding to meet in what they say would be a neutral and safer location such as London, Paris, New York or a...

  • Treasury has warned bondholders that dealing with Venezuela's chief debt negotiators, both of whom are blacklisted by the United States, would be "problematic" and could lead to stiff penalties under U.S. sanctions. Last week, President Nicolas Maduro invited creditors to a Nov. 13 meeting in Caracas to kick off talks to discuss a restructuring of some $60...

  • SAO PAULO/ BRASILIA, Nov 6- The head of Brazil's telecommunications watchdog, Anatel, demanded on Monday that debt-laden carrier Oi SA submit its latest restructuring proposal to the regulator before officially filing it with a bankruptcy court. Anatel head Juarez Quadros told reporters in Brasilia that the regulator, an Oi creditor due to billions of dollars...

  • SAO PAULO/ BRASILIA, Nov 6- The head of Brazil's telecommunications watchdog, Anatel, demanded on Monday that debt-laden carrier Oi SA submit its latest restructuring proposal to the regulator before officially filing it with a bankruptcy court. Anatel head Juarez Quadros told reporters in Brasilia that the regulator, an Oi creditor due to billions of dollars...

  • SAO PAULO/ BRASILIA, Nov 6- The head of Brazil's telecommunications watchdog, Anatel, demanded on Monday that debt-laden carrier Oi SA submit its latest restructuring proposal to the regulator before officially filing it with the bankruptcy court. Speaking to reporters, Anatel head Juarez Quadros said the new plan could create "operational risks" for the...

  • ABB said on Monday that it will restructure operations in North America, halting production at its factory in St. Louis and investing in its sites in South Boston and Crystal Springs, Mississippi, as well as expanding its medium and large transformer factory in Varennes, Canada. Other initiatives include expansion of production in India to better supply the...

  • ABB said on Monday that it will restructure operations in North America, halting production at its factory in St. Louis and investing in its sites in South Boston and Crystal Springs, Mississippi, as well as expanding its medium and large transformer factory in Varennes, Canada. Other initiatives include expansion of production in India to better supply the...

  • The companies' services are critical for Venezuela, which is struggling with a deep economic crisis marked by shortages of food and medicine. New York- based investment firm Torino Capital estimates that, in addition to the bonds, Venezuela owes some $26 billion to creditors and $24 billion in commercial loans. U.S.-based oilfield services provider...

  • SAO PAULO, Nov 4- The board of Brazil`s Oi SA has approved a change to the restructuring proposal of the debt-laden telecom provider to be submitted to creditors on Monday, the company said in a securities filing. Reuters reported this week that the plan put forth by distressed asset funds such as Attestor Capital LLP and Centerbridge Partners LP includes...

  • CARACAS, Nov 3- Venezuela's cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds that sent the OPEC nation's debt prices plunging. President Nicolas Maduro on Thursday vowed to make a $1.2 billion bond payment but said future payments would be...

  • SAO PAULO, Nov 3- Brazil's Oi SA has appointed two board members, Hélio Costa and João Ribeiro, as directors in the debt-laden carrier. Costa was appointed to the board last year by influential minority shareholder Nelson Tanure, through his fund Societé Mondiale. Tanure, allied with major shareholder Pharol SGPS SA, is in talks with creditors to restructure...

  • NEW YORK, Nov 3- The U.S. tax restructuring plan unveiled by Republican lawmakers on Thursday proposed changes that would remove tax advantages of some types of municipal bonds at a time of robust market performance and, in the coming week, a hefty issuance calendar. Leading the pack in competitive offerings is Pennsylvania, set to issue $973.99 million in...

  • CARACAS, Nov 3- Venezuela's cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds that sent the OPEC nation's debt prices plunging. Investors were unsure about what he meant, because U.S. sanctions on Venezuela mean refinancing is off the table.

  • CARACAS, Nov 3- Venezuela's cash-strapped government invited creditors to a Nov. 13 meeting in Caracas on Friday, after announcing plans to potentially restructure some $60 billion in bonds that sent the OPEC nation's debt prices plunging. Investors were unsure about what he meant, because U.S. sanctions on Venezuela mean refinancing is off the table.

  • CARACAS, Nov 3- President Nicolas Maduro's cash-strapped socialist government invited Venezuelan bondholders to a Nov. 13 meeting in Caracas as a shock decision to restructure the OPEC nation's foreign debt sent prices plunging on Friday. "A sovereign process of debt renegotiation is beginning," said El Aissami, who is heading Venezuela's debt committee...

  • CARACAS, Nov 3- Venezuelan bonds tumbled on Friday after socialist President Nicolas Maduro announced plans to restructure the OPEC nation's external debt during an unprecedented economic crisis further complicated by U.S. sanctions. Venezuela has few avenues to restructure, however, because of President Donald Trump's sanctions. Venezuela's move could...

  • As part of that restructuring plan, Molina had also set a target to lower expenses by $300 million to $400 million, on an annual run-rate basis, by the end of 2018, and by about $200 million by the end of this year. "We believe that we have already reached our goal for 2017, and have lowered annualized run rate expenses by $200 million," Chief Executive Joseph White said...

  • BRASILIA, Oct 30- A government working group drafting proposals to help bring debt-laden Brazilian phone carrier Oi SA out of bankruptcy protection has not reached an agreement yet, and the group will meet again on Wednesday, Solicitor-General Grace Mendonça said on Monday. Mendonça said a presidential decree is a possible solution to resolving Oi's debts,...