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OSX Brasil offers to pay debt over 25 years

Published Sun, May 18, 2014 · 10:00 PM
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[RIO DE JANEIRO] OSX Brasil SA, the bankrupt shipbuilder controlled by former billionaire Eike Batista, has presented a plan to a court to pay US$2.6 billion in debt over 25 years.

Under the plan, OSX will start repaying the bulk of its debts after three years, the company said. It also allows the company to seek new capital, including the sale of stakes to new investors. The company said on Friday it hoped to generate new…

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