Collapse of a 35bn dollars empire; Brazil’s Eike Batista defaulted on 45 million interest payment

Thursday, October 3rd 2013 - 19:29 UTC

Full article 2 comments

Two days ago, former Brazilian billionaire Eike Batista crossed a line. He started to default on a 45 million dollars interest payments on his oil and gas company, OGX's, bonds. The default will be official on October 30th, according to Bloomberg. That leaves bondholders, like PIMCO, the largest bond fund in the world helmed by legendary investor Bill Gross, taking a massive hit. And what's worse is that there could be more to come, according to the Wall Street Journal. Read full article

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Brasileiro
Collapse? Everything he built is still standing serving our country. Speculators? Can take the property and continue the work. Can not? So why bought shares?
Oct 03rd, 2013 - 08:27 pm - Link - Report abuse 0
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Conqueror
27 days and counting. Tick, tock.......
Oct 03rd, 2013 - 09:01 pm - Link - Report abuse 0
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