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Oro Negro Drilling misses July payment on 7½% senior secured bonds
By Caroline Salls
Pittsburgh, July 24 – Oro Negro Drilling Pte. Ltd. did not make the $8.75 million July interest and scheduled amortization payment on its 7½% senior secured bond issue 2014/2019, according to a notice released Tuesday by bond trustee Nordic Trustee AS.
As a result, the trustee said default interest will begin accruing from and including the payment date.
Oro Negro is an oil and gas services company based in Alvaro Obregon, Mexico.
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