November 8, 2017 / 1:35 PM / a year ago

Brazil's Oi asks regulator for a week to explain new restructuring proposal

BRASILIA, Nov 8 (Reuters) - Brazil’s Oi SA has asked the country’s regulator Anatel for a week to explain details of the new debt restructuring proposal approved by the company’s board, the regulator said on Wednesday.

The carrier, which filed for Latin America’s largest bankruptcy proceeding 17 months ago, has proposed to pay hefty fees to bondholders who commit to injecting new money into the company. A pivotal creditors assembly is scheduled for Friday, Nov. 10. (Reporting by Leonardo Goy; Writing by Tatiana Bautzer)

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