Cases & Deals

Telemar Norte Leste obtains $1.2 billion term loan facility

Clients Telemar Norte Leste S.A.

Jones Day advised Telemar Norte Leste S.A., Brazil's largest telecommunications company, in connection with a $1.2 billion term loan facility provided by China Development Bank Corporation. The facilities were guaranteed by Telemar's parent company Oi S.A. and consisted of a $600 million delayed draw term loan facility for the acquisition of equipment and services from Huawei Technologies Co., Ltd. and a $600 million term loan to refinance certain existing indebtedness of Telemar.