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Oi eyes pay-off of credit default swaps - report

Thursday 21 April 2016 | 12:25 CET | News
Brazilian operator Oi is concerned that some bondholders who bought credit protection may try to push it into default, people with knowledge of the matter told Bloomberg. Oi's lawyers are exploring whether they could orchestrate a payout for the USD 14.2 billion of derivatives known as credit-default swaps, according to the same sources. They may create an event that would trigger payments on the derivatives without sparking a default on the rest of the company's nearly USD 17 billion of debt. No decision has been made and the company may not pursue the strategies currently being analyzed by

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Categories: General
Companies: Oi
Countries: Brazil
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