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UPDATE 1-Creditors request delay of Oi assembly -sources
October 20, 2017 / 1:01 AM / a month ago

UPDATE 1-Creditors request delay of Oi assembly -sources

(Updates with details on the creditors’ request)

BRASILIA/SAO PAULO, Oct 19 (Reuters) - Creditors including state-controlled lender Banco do Brasil SA, development bank BNDES and groups representing bondholders on Thursday requested the delay of Monday’s creditors assembly of Brazilian phone company Oi SA, two sources with knowledge of the matter said.

Oi’s revised restructuring plan proposed by management last week has been publicly rejected by the steering committees of key bondholder groups and most export credit agencies.

Creditors want the company to revise the restructuring plan once more. Banco do Brasil declined to comment. BNDES and representatives for the steering committees of Oi’s two largest bondholder groups did not immediately comment.

$1 = 3.17 reais Reporting by Leonardo Goy in Brasilia and Tatiana Bautzer in Sao Paulo; Editing by Sandra Maler

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