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Tag: debt
-Oil hedge helps Oando prepay debt after ConocoPhillips' deal
2015-03-04 14:43:34| Energy - Topix.net
Nigerian energy company Oando Plc has prepaid $238 million out of the $900 million it borrowed to part finance the acquisition of ConocoPhillips' Nigerian oil and gas business, the company said on Tuesday. Oando bought ConocoPhillips's upstream oil and gas business in Nigeria last July for $1.5 billion, helping it transition from a marketer of refined petroleum products into one of the top players in the West African country's oil industry.
Petrobras to sell $13.7bn in assets to reduce debt
2015-03-03 01:00:00| Hydrocarbons Technology
Brazilian energy firm Petróleo Brasileiro (Petrobras) is planning to sell about $13.7bn in assets over the next two years to reduce its debt.
Greek violence ahead of debt vote
2015-02-27 00:38:19| BBC News | Business | UK Edition
Greek police clash with rioters after the first protest against the left-wing government, ahead of a key German vote on extending the bailout.
Tags: vote
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Greece to unveil debt deal reforms
2015-02-23 05:46:38| BBC News | Business | UK Edition
Greece is preparing to present a list of reforms to international creditors in order to secure a bailout extension.
Tags: deal
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Telecom Italia FY sales down 7.8%, improves net debt
2015-02-20 08:49:00| Telecompaper Headlines
(Telecompaper) Telecom Italia reported full-year revenues down 7.8 percent to EUR 21.57 billion, a slight improvement on the previous year's fall of 9.1 percent. In a statement setting out its preliminary results, the company said its EBITDA for the year fell 7.9 percent to EUR 8.79 billion, while the EBITDA margin remained stable at 40.7 percent (40.8 percent in 2013). Net debt was reduced by EUR 156 million to EUR 26.65 billion, including the impact of EUR 0.9 billion for spectrum acquisition in Brazil and Argentina. Capex increased by EUR 584 million to EUR 4.98 billion, including the purchase of frequencies in the 700 MHz band in Brazil. Telecom Italia said the recovery of revenue performance in Italy continued thanks to improvements in its fixed and mobile businesses. Full-year sales fell 6.6 percent to EUR 15.30 billion, compared to a 9.6 percent decline the previous year. EBITDA dropped to EUR 6.99 billion compared to the previous year's EUR 7.74 billion, while capex came in at EUR 2.78 billion compared to EUR 3.03 billion in 2013. Telecom Italia's mobile unit TIM reported service revenues of EUR 5.09 billion for the year, down 8.7 percent from the previous year's result of EUR 5.58 billion. Wireline revenues dropped 6.7 percent to EUR 10.99 billion compared to EUR 11.79 billion in 2013.
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