TIDM36EN

RNS Number : 7428W

Portugal Telecom Intnl Fin BV

13 February 2017

PORTUGAL TELECOM INTERNATIONAL FINANCE B.V. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

(the "Issuer" or "PTIF")

NOTICE

to the holders of the following securities:

EUR500,000,000 4.375 per cent. Notes due 2017

(ISIN: XS0215828913)

EUR250,000,000 5.242 per cent. Notes due 2017

(ISIN: XS0441479804)

EUR750,000,000 5.875 per cent. Notes due 2018

(ISIN: XS0843939918)

EUR750,000,000 5.00 per cent. Notes due 2019

(ISIN: XS0462994343)

EUR1,000,000,000 4.625 per cent. Notes due 2020

(ISIN: XS0927581842)

EUR500,000,000 4.5 per cent. Notes due 2025

(ISIN: XS0221854200)

EUR400,000,000 6.25 per cent. Notes due 2016

(ISIN: PTPTCYOM0008)

(together, the "Notes")

issued by the Issuer under its EUR7,500,000,000 Euro Medium Term Note Programme

and guaranteed by

Oi S.A. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

("Oi")

Appeal of judgments in relation to both Oi Brasil Holdings' and PTIF's hearings regarding the requests for conversion of their respective suspension of payments proceedings into Dutch bankruptcy proceedings

On 2 February 2017, the District Court of Amsterdam, The Netherlands, denied the requests for conversion of the suspension of payments proceedings into Dutch bankruptcy proceedings for each of Oi's finance vehicles in the Netherlands, Oi Brasil Holdings Coöperatief UA em recuperação judicial (subject to Brazilian in-court restructuring proceedings) ("Oi Brasil Holdings") and PTIF.

On 10 February 2017, the administrators appointed to supervise the suspension of payments proceedings of Oi Brasil Holdings and PTIF informed that they will not appeal against the judgements of the District Court of Amsterdam, The Netherlands. Further, on 10 February 2017, Oi, PTIF and Oi Brasil Holdings were informed that certain creditors of each of PTIF and Oi Brasil Holdings filed appeals against such judgements.

For more information, please contact:

Portugal Telecom International Finance B.V. em recuperação judicial (subject to Brazilian in-court restructuring proceedings)

Carlos Augusto Machado Pereira de Almeida Brandão

E-mail: PTIF.SoP@oi.net.br

Telephone: + 55 21 3131-2918

The administrator of PTIF

Mr J.L.M. Groenewegen

CMS

PO Box 94700

1090 GS Amsterdam

The Netherlands

E-mail: ptif@cms-dsb.com

Telephone: +31 20 3016 311

13 February 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBDGDDRXBBGRX

(END) Dow Jones Newswires

February 13, 2017 07:39 ET (12:39 GMT)

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