OSX Brasil SA, the shipbuilding company controlled by
Brazilian billionaire Eike Batista, could pay yields between 10
percent and 11 percent to sell $265 million of secured bonds, a
source with direct knowledge of the deal told Reuters. The bond
will mature in June next year, and proceeds from its sale could
be used to fully fund the remaining capital requirements of the
construction of the FPSO OSX-3 and cover debt-servicing costs.
Under terms of the bond, OSX agreed to maintain an equity
ratio of at least 20 percent or else be subject to an early
repayment of the bond, said the source, who refused to speak on
the record because terms of the transaction are not public.
Pareto Securities is handling the transaction for the Brazilian