Portugal Telecom / Oi - Bondholders

Portugal Telecom / Oi - Bondholders

For all bondholders of Portugal Telecom/Oi, it is still possible to become eligible for the 12 year plan, and avoid a potential reduction of 75% (foreseen in the 25 years plan). The solution is called “Adesão Tardia” suit.

This information is very important because hundreds of bondholders are unaware of what is going on.

Indeed, there are two solutions for bondholders, according the CHARACTERISTICS OF PAYMENT PLANS PLANNED IN THE JUDICIAL RECOVERY PLAN

1. 12 YEARS (CLAUSE 4.3.3.1.)

• Compensation interest of 6 months (contracted rate)
• Hair-cut of 50%
• 6 years grace period
• Capitalized interest of 6% per year (grace period)
• Simple interest of 6% per annum
• Payment Calendars:

DATES

AMORTIZATION
15-AUG-24 4.00%
15-FEB-25 4.00%
15-AUG-25 4.00%
15-FEB-26 4.00%
15-AUG-26 4.00%
15-FEB-27 4.00%
15-AUG-27 12.66%
15-FEB-28 12.66%
15-AUG-28 12.66%
15-FEB-29 12.66%
15-AUG-29 12.66%
15-FEB-30 12.70%

2. 25 YEARS (CLAUSE 4.3.6.)

• 20 years grace period
• There is no interest
• If you choose to receive in Real ($), there is monetary adjustment paid only in the last installment, at the end of 25 years
• Reimbursement in 5 years (1 installment per year)
• 75% reduction of the capital invested (unilateral decision of prepayment by the creditor, OI)
• Risk of loss of value that exceeds the budget stipulated for the plan.

If you are a bondholder and have done nothing yet, then you will be eligible for the 25-year plan.

However, It is still possible to become eligible for the 12 year plan, and avoid a potential reduction of 75% (foreseen in the 25 years plan) will be through “Adesão Tardia” lawsuit.

“Adesão Tardia” lawsuit is a petiton that is directed to the court, sustained by Oi's judicial reorganization agreement.

This process must be processed in the Rio Janeiro Court, attached to the main proceedings.

CANDEIAS & ASSOCIADOS, a law firm, have already done this proceedings for dozens of customers in a similar situation.

Note that this lawsuit should be taken as soon as possible before the definitive list of eligible creditors for 12 years is published.

The contacts are [email protected] or 211 455 415.

Best regards