OGX Says Talks Advance

OGX Says Talks Advance

Brazil Corporate & Sovereign Strategy

Talks between Brazil’s OGX Petroleo e Gas Participacoes and its bondholders have been advancing but haven’t yet come to a conclusion, the Eike Batista oil company says. OGX filed for bankruptcy protection at the end of October and claims to now be in discussion with creditors representing more than 50% of the $3.6bn face value in its international bonds. It failed to reach an agreement with the same group before filing for bankruptcy protection. A judge recently approved the protection for OGX,

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