Brazilian shipbuilding and ship-leasing company OSX Brasil SA is in the process of raising a $265 million short-term loan due in 2014 from foreign investors to complete an oil platform and repay existing debt, the company’s press office said on Tuesday.
The Rio de Janeiro-based company, part of Brazilian billionaire Eike Batista’s EBX Group, denied a report in the Estado de S. Paulo newspaper on Tuesday that efforts to sell the debt through Norwegian brokerage Pareto Securities, had failed.
Investors were unwilling to buy the notes even at a 13 percent rate of interest, Estado reported, a rate well above the 10 percent to 11 percent OSX is seeking. OSX shares fell 13.7 on Monday percent on concern about its ability to raise capital.
(c) 2013 Thomson Reuters, Click For Restrictions
Sign up for gCaptain’s newsletter and never miss an update
Essential maritime and offshore news, insights, and updates delivered daily straight to your inbox
South Korean conglomerate Hanwha Group is reportedly planning a major investment for improvements at its recently acquired Philly Shipyard, with plans to produce the U.S.-built LNG carriers. According to Korean...
Russia has announced a RUB 500bn ($6bn) plan to revitalize domestic shipbuilding. The National Strategy for the Development of the Shipbuilding Industry outlines an extensive program to add 1,637 merchant vessels to its fleet by 2036.
Italian shipbuilding giant Fincantieri S.p.A. reported unprecedented growth in the first quarter of 2025, with EBITDA surging 54% to €154 million and total backlog reaching a record €57.6 billion. The...
Subscribe to gCaptain Daily and stay informed with the latest global maritime and offshore news
Stay informed with the latest maritime and offshore news, delivered daily straight to your inbox
Essential news coupled with the finest maritime content sourced from across the globe.
Sign Up
Join The Club
