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January 10, 2008 |
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NET SERVICOS: Okays US$200-Million Bond Issue Net Servicos de Comunicacao's board has authorized a bond issue of up to US$200 million that will mature in 10 years, Brazilian news service Agencia Estado reports. Net Servicos told Business News Americas that it will choose a financial institution and a consulting company to coordinate the bond issue. Net Servicos should have 48% of the pay television market and 18% of the broadband Internet market, and extend its coverage to 91 cities from 79 after it acquires Big TV, Gazeta Mercantil states. Headquartered in Sao Paulo, Brazil, NET Servicos de Comunicacao -- http://Nettv.globo.com/NETServ/br/home/indexNet.jsp?id=1 -- is a subscriber TV multi-operator in Brazil, as it operates the NET brand in major cities, including operations in the 4 largest cities: Sao Paulo, Rio de Janeiro, Belo Horizonte and Porto Alegre. NET also offers Broadband Internet services through its NET VIRTUA brand name. * * * As reported in the Troubled Company Reporter-Latin America on Jan. 3, 2008, Moody's has not changed Net Servicos de Comunicacao S.A.'s Ba2 global local currency corporate family rating and Aa3.br Brazilian national scale rating following the company's announced agreement to acquire 100% of the capital of BIGTV Companies. The transaction is subject to regulator and anti-trust commission approvals. |
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Today's Top Stories have been selected from the Troubled Company Reporter - Latin America. To receive the Full TCR-LA please CLICK HERE.
