Brazil's OGX Misses $45M Payment on Bond

Reuters

SAO PAULO, Oct 1 (Reuters) - OGX Petróleo e Gas Participações SA missed a $45 million interest payment due on Tuesday, moving the debt-laden Brazilian oil producer closer to the largest Latin American corporate debt default ever.

The company, controlled by embattled Brazilian tycoon Eike Batista, failed to deposit the money in bondholder accounts and plans not to do so during the 30-day grace period it has to remain current on its debt, the company said in a filing.

Copyright 2017 Thomson Reuters. Click for Restrictions.

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