STXNEWS LATAM-Brazil's OSX still negotiating with bondholders

Fri Dec 20, 2013 7:44am EST

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Brazilian shipbuilder OSX Brasil SA remains in negotiations with bondholders over an interest payment on senior secured bonds that came due on Friday and were sold to finance its OSX 3 oil production ship, the company said in a securities filing.

Once the deadline has passed, the company has 30 more days to make the payment before being declared in default.

On Wednesday Reuters reported that OSX Brasil expected a deal in the coming days to delay payment on the bonds, which will help it move ahead with a restructuring plan.

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