Telecom Oi Owes R$ 9.8 billion to State-Run Banks

06/22/2016 - 10h16

Oi's bankruptcy protection process strongly affects state-run banks, which have R$ 9.8 billion (US$ 2.88 billion) to receive from the telecommunications company.

The data come from the list of creditors presented to Justice with the request for bankruptcy protection.

Among the state-run banks, Banco do Brasil is the largest creditor, with R$ 4.4 billion (R$ 1.29 billion). BNDES comes next, with R$ 3.3 billion (R$ 968.8 million). Caixa Econômica Federal holds R$ 2 billion (US$ 587 million) of the debt. Banco do Nordeste completes the listing, with R$ 127.2 million (US$ 37.4 million).

The amount owed by Oi to federal institutions corresponds to 15% of the company's total debt, R$ 65.4 billion (US$ 19.4 billion). Considering the R$ 10 billion (US$ 2.94 billion) owed to Anatel, institutions related to the government account for 30% of the debt.

Among the Brazilian private banks, the only listed with a relevant ammount is Itaú (R$ 1.5 billion, or US$ 440.4 million).

The president of Febraban (Brazilian Federation of Banks), Murilo Portugal Filho, declared that Oi's crisis does not threaten Brazilian banks.

Contacted by Folha, the banks declined to comment.

Among the federal banks, BNDES has preference to receive the money, since it is the only one with loan guarantee.

The priority, however, are the 5,500 people contemplated by labor liabilities, which totaled R$ 668 million (US$ 196.1 million).

The listing shows that the main creditors are debt securities holders abroad. Representatives of them, Citicorp and BNY Mellon are listed, with R$ 33.9 billion (US$ 9.95 billion).

Translated by MARINA DELLA VALLE

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