GVT Seeks Debt Swap, Says No Bond

Brazil’s Global Village Telecom (GVT) is seeking a way to roll some $200m in 12% coupon 2012 bonds into BRL-denominated debt. The Curitiba-based provider of VOIP and fixed-line services is in discussions with various banks regarding local issuance options, finance officials at the company tell LatinFinance, but no decision has been made. “The company does not have plans for a dollar bond issue,” an investor relations department official says. She adds that GVT has not contracted any banks to do so, despite reports to the contrary. There is about $200m outstanding in GVT’s 2012 senior notes, according to the company’s Q1 2009 earnings report.