April 10, 2013 / 9:06 PM / 4 years ago

Lupatech fails to pay interest on $275 mln of global debt

1 Min Read

SAO PAULO, April 10 (Reuters) - Lupatech SA, the Brazilian oil services and equipment company, failed to pay interest on $275 million of debt due in 2017, according to a securities filing on Wednesday.

Lupatech has been faced with a dearth of cash and a weak order flow in the wake of a crisis in the country's oil services industry. The company was scheduled to deposit about $6.789 million worth of interest payments in the accounts of bondholders by April 15, investors told Reuters recently.

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