Telebras seeks consent to change guarantor for fifth debenture issue

By Jennifer Chiou

New York, Sept. 9 - Brasil Telecom SA is calling together the holders of its fifth issue of debentures to approve an amendment to the indenture to allow the company to change the guarantor for the securities.

Telebras is looking to substitute as intervening guarantor Brasil Telecom Participações SA for Tele Norte Leste Participações. The change is in connection with the company's intention to merge with Brasil Telecom Participações.

The amendment is conditioned on the company's board submitting approval of the change by Oct. 30.

The meeting is slated for Sept. 22.

Telebras is a telecommunications services provided based in Brasilia.

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