Net Servicos plans $300 mln, 10-year global bonds

Net Servicos de Comunicacao, Brazil's largest cable services provider, plans to sell $300 million of 10-year global dollar-denominated bonds, sources with knowledge of the situation told Reuters on Thursday. The company plans to use the proceeds for possible takeovers, to repay debt and for general corporate purposes, the sources said.
The bonds could only be repurchased by Net Servicos after the fifth year of issuance, said the sources, who declined to be cited by name because the plans are private. The company will meet investors in London and Los Angeles on Oct. 26 and in Boston and New York the following day.