OGX Hits Snag, OSX to Miss Coupon

OGX Hits Snag, OSX to Miss Coupon

Brazil Corporate & Sovereign Strategy

A Brazilian court has ruled that the bankruptcy protection applied for by OGX can’t extend to its OGX International GmbH and OGX Austria GmbH units, OGX says. The court claims it does not have the appropriate jurisdiction over the overseas units, through which its $3.6bn in international bonds were issued. OGX plans to appeal the decision. Separately, OSX Brasil does not intend to make an interest payment due next month on its 9.25% 2015 bonds issued by its OSX-3 Leasing unit, according to Norwe

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial