Brazil’s Oi postpones release of 2022 financial statements

SAO PAULO (Reuters) – Brazilian telecom firm Oi SA (OTC:) said late Friday it decided to postpone the release of its 2022 financial statements to May 22, after an expected presentation of its judicial reorganization plan.

The company, which entered into a second bankruptcy protection in March just months after it emerged from similar proceedings, said the delay was mainly due to ongoing negotiations with a group of its financial creditors.

Oi, however, release preliminary figures showing that it had consolidated net revenue of 2.62 billion reais ($518.96 million) in the fourth-quarter of last year.

Its routine earnings before interest, taxes, depreciation and amortization (EBITDA) for Brazilian operations in the period came in at 320 million reais.

The firm’s cash position at the end of 2022 was 3.22 billion reais, Oi added.

In a separate securities filing, the telecom operator said it entered into a note purchase agreement with some financial creditors to establish terms and conditions for a court-approved debtor in possession financing of $275 million.

($1 = 5.0486 reais)