OGX agrees $3.8bn debt -to-equity swap with bondholders

Jan 2, 2014

A majority of creditors to Brazilian oil company OGX agreed a restructuring plan which would see them swap $5.8bn of debt for equity, and ultimately own 90% of the company, the firm announced on December 24. The debt includes $3.8bn owed to bondholders, $1.5bn owed to related company OSX for termination fees,...

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