December 19, 2017 / 6:02 PM / a year ago

BNDES calls for some modifications to Oi restructuring plan

RIO DE JANEIRO, Dec 19 (Reuters) - Brazilian development bank BNDES, a major creditor of telecoms company Oi SA , will require some “fixes around the edges” of the company’s restructuring plan before the bank can vote for it, an attorney said on Tuesday.

BNDES lawyer Marcelo Rangel delivered a document to Oi Chief Executive Eurico Teles suggesting changes at a creditors meeting in Rio de Janeiro. Under Brazilian law, BNDES must approve the company’s restructuring plan for it to go into effect. At creditors meetings in Brazil, restructuring plans are often changed during the proceedings. (Reporting by Rodrigo Viga Gaier; Writing by Gram Slattery)

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