Mexico’s Oro Negro fails to redeem first-priority bonds at maturity

By Caroline Salls

Pittsburgh, Dec. 4 – Oro Negro Impetus Pte. Ltd. did not redeem its first-priority senior secured bonds on the Dec. 4, 2015 maturity date, according to a notice from bond trustee Nordic Trustee ASA.

The trustee said it requested that the bonds not be withdrawn and discharged to avoid automatic cancellation and discharge of the bonds in the Norwegian Security Deposit on the maturity date. Nordic Trustee said this will not have any effect on the payment obligations nor default interest accrued on the bonds.

According to the notice, an informal group of bondholders is in a continuing dialogue with Oro Negro in order to find a solution to be presented to bondholders.

The oil and gas services company is based in Alvaro Obregon, Mexico.

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