AMERICAS

摘要

Continued speculation about the financial viability of Brazil's schahin oil & gas prompted a dramatic sell-off in the company's 2022 bonds last week amid reports that it was teetering on the edge of bankruptcy. The slump in the company's US$651m outstanding 5.875% 2022s began on Monday following unconfirmed media reports that the issuer was expected to file for court protection in Brazil. The bonds, backed by charter payments from a single drillship called Sertao, were being quoted as low as 39.00-41.00 on Tuesday, adding another 10-point drop to Monday's 10-point plunge.