OSX 3 Leasing asks 13% bondholders to approve privatization of bonds

By Caroline Salls

Pittsburgh, May 18 – OSX 3 Leasing BV is asking holders of its 13% senior secured callable bond issue 2012/2015 to approve arrangements for the privatization of the bonds, according to a notice released Friday by bond trustee Nordic Trustee AS.

If the bonds are privatized, Nordic Trustee said information about OSX 3 or the bonds would no longer be made publicly available.

According to the notice, some information related to the ongoing marketing of OSX 3’s FPSO may be commercially sensitive and/or subject to confidentiality agreements.

The trustee said the company plans to share information with the bondholders regarding the marketing process, the current status and operations of the FPSO and potential future opportunities for the FPSO.

Under the proposal, a password-protected datasite would be established to allow bondholders access to the information. Potential purchasers would also be granted access to the information if they sign confidentiality agreements.

Bondholder votes are due by 7 a.m. ET on May 25.

OSX 3 Leasing is a subsidiary of OSX Brasil SA, a Rio de Janeiro-based oil and gas holding company.

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