Reuters: Bankruptcy News: Brazil's OGX ends talks with holders of $3.6 billion of bonds

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Brazil's OGX ends talks with holders of $3.6 billion of bonds Oct 29th 2013, 04:26 RIO DE JANEIRO/SAO PAULO | Tue Oct 29, 2013 12:26am EDT RIO DE JANEIRO/SAO PAULO Oct 29 (Reuters) - Brazil's OGX Petróleo e Gas Participações SA ended talks with holders of $3.6 billion of its bonds due in 2018 and 2022 after failing to reach an agreement to restructure the debt following months of negotiations, the company said in a statement on Tuesday. OGX, controlled by former billionaire Eike Batista, is preparing to file for bankruptcy protection in a Brazilian court as early as Tuesday, three sources with direct knowledge of the situation told Reuters on Monday. The Rio de Janeiro-based company faces the end of a 30-day grace period to deposit $44.5 million of interest payments into bondholder accounts later this week. (Reporting by Jeb Blount and Guillermo Parra-Bernal; Editing by Michael Urquhart)

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