Brazilian telecommunications holding company, Tele Norte Leste Participacoes, is planning to sell notes worth $900 million, The Wall Street Journal reports. The company intends to use the net proceeds to refinance short-term debt.
The notes will mature in three months. The company is offering to pay an annual interest rate of 0.45 percentage point over the variation of the local interbank rate.
Click here for the story from The Wall Street Journal.