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Download Dec. 27 (Bloomberg) -- Debt Fraction By Rodrigo
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Editoria: Brazil Credit Data: 27/12/2013 Dec. 27 (Bloomberg) -- Debt Fraction By Rodrigo Orihuela, Peter Millard and Cristiane Lucchesi Based on yesterday’s closing price, the creditors’ 25 percent equity stake is worth 177.97 million reais ($75.62 million) or about 1.3 percent of the $5.8 billion debt. Oleo & Gas also expects to get a $15 million bridge loan before the end of the week and another $35 million by early next month, said Eduardo Munhoz, a partner at law firm Mattos Filho Veiga Filho Marrey Jr. & Quiroga Advogados representing the company in the bankruptcy protection case. The bridge loans will mature on Jan. 31, when the company is expected to receive the debtor-in-possession financing, Munhoz said by telephone from Sao Paulo yesterday, adding Oleo & Gas expects to emerge from bankruptcy protection by March. --Editors: Steve Dickson, Dan Kraut
