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Brazil's Lupatech misses $41.6 mln interest payment on local debt
April 15, 2013 / 9:26 PM / 5 years ago

Brazil's Lupatech misses $41.6 mln interest payment on local debt

SAO PAULO/RIO DE JANEIRO, April 15 (Reuters) - Brazilian oil equipment company Lupatech SA failed to pay 83.15 million reais ($41.6 million) in interest on conversible local debt notes in the latest sign of financial and operational strains facing companies in the once-thriving sector.

The Caxias do Sul, Brazil-based company was scheduled to deposit such amount, which included overdue interest payments corresponding to last year, in bondholder accounts on Monday, Chief Financial Officer Thiago Piovesan said in a securities filing.

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