TIDM36EN

RNS Number : 0955B

Portugal Telecom Intnl Fin BV

31 March 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")

Hearings for each of PTIF and Oi Brasil Holdings to consider appeals against the decisions that denied the requests for conversion of their respective suspension of payments proceedings into Dutch bankruptcy proceedings

On 29 March 2017, hearings were held in the Dutch Court of Appeals, Amsterdam, The Netherlands, in relation to the appeals against the decisions that denied the requests for conversion of the suspension of payments 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.

The Dutch Court of Appeals, Amsterdam, The Netherlands, indicated that it currently intends to render its decision in relation to both Oi Brasil Holdings' and PTIF's hearings on 19 April 2017.

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

30 March 2017

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCBRGDXGXXBGRG

(END) Dow Jones Newswires

March 31, 2017 02:00 ET (06:00 GMT)

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