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Brazil's Oi proposes 25 percent limit to debt-for-equity swap

October 12, 2017 12:58 AM
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BRASILIA/RIO DE JANEIRO (Reuters) - Brazilian phone carrier Oi SA submitted a plan on Wednesday to restructure its 65.4 billion-real ($21 billion) debt burden with a proposal to limit the debt-for-equity swap demanded by creditors to 25 percent of capital.

The plan was delivered to a Rio de Janeiro court and creditors of the largest-ever bankruptcy proceeding in Latin America will vote on it on Oct. 23.

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