Brasil Telecom asks debenture holders to approve change to guarantee

By Angela McDaniels

Tacoma, Wash., Oct. 3 - Brasil Telecom SA said the holders of its fifth issuance of non-convertible unsecured debentures will meet on Oct. 17 to consider amending the guarantee provided by Tele Norte Leste Participacoes SA.

The proposed amendment will exclude clause 2.6 of the indenture and any mention of the guarantor in the other applicable clauses, according to a 6-K filing with the Securities and Exchange Commission.

As part of the reorganization of the Oi companies, Tele Norte Leste will be merged into Brasil Telecom, and Brasil Telecom will succeed Tele Norte Leste as the holder of its rights and obligations, including the guarantee of the debentures. The proposed amendment will help avoid confusion.

Pavarini DTVM Ltda. is the trustee.

Brasil Telecom is a Rio de Janeiro-based telecommunications company.

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