Telemar To Decide On Buyout Loan Mandate

Brazilian telecom company Telemar is heard to be close to making a decision on a $2bn plus loan financing to pay for its leveraged acquisition of Telenorte, a competitor. The loan will be taken out at the holding company level, according to bankers away from the process. Telemar is heard to have mandated ABN AMRO for a $300m portion to be taken out at the operational company level.