Embratel to issue up to US$169mn in promissory notes

- Monday, November 28, 2011

Embratel to issue up to US$169mn in promissory notes

The board of Brazilian telephone carrier Embratel has approved a promissory note issue worth up to 320mn reais (US$169mn), the company said in a statement over the weekend.

The notes, to be issued in a single series, will yield 3.5 percentage points above the DI, as the local interbank rate is known, said Embratel, a unit of Mexico's Telmex.

The notes mature March 30, 2012, Embratel said.

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