News
Brazilian telco Algar Telecom will issue 400mn reais (US$68mn) in bonds known as simple debentures to roll over its existing debt and bolster its cash position.
The issuance was approved by the company’s board and documentation was filed with securities regulator CVM, according to a market filing.
This is Algar’s 15th debenture issuance to date. The carrier ended the third quarter of 2024 with a net debt of 2.7bn reais, down 3.2% year-over-year, and 69.9mn reais in losses, compared to a profit of 3.4mn reais in 3Q23.
The company’s debt is essentially made up of debentures, whose maturities are spread over periods of 10 years.
In Q3, the company reported net revenues of 709mn reais, up by 2.1%. In the first nine months of 2024, net revenue was 2.10bn reais, up 2.6%.
The operator had 6.3mn customers at the end of November, according to data from regulator Anatel.
Of these, 4.5mn were for mobile operations,…
