Telemar secures 4.3 bln reais loan for takeover

SAO PAULO, July 16 (Reuters) - Brazil's largest telecoms group Oi (TNLP4.SA: Quote, Profile, Research)(TNE.N: Quote, Profile, Research) said on Wednesday it secured a 4.3 billion-real ($2.7 billion) loan to fund its takeover of rival Brasil Telecom (BRTP4.SA: Quote, Profile, Research)(BRP.N: Quote, Profile, Research).

The company said its Telemar Norte Leste (TMAR5.SA: Quote, Profile, Research) unit agreed to pay a spread of 1.3 percentage points a year on top of Brazil's CDI interbank loan rate for the loan.

Oi said the loan with Banco do Brasil (BBAS3.SA: Quote, Profile, Research) will mature in eight years, with payments beginning in 2010. ($1 = 1.598 Brazilian reais) (Reporting by Elzio Barreto, editing by Gerald E. McCormick)