OSX3

Energy, Event Driven/Special Sit


OSX Brasil SA: OSX3 Leasing BV, 9.25% March 20, 2015 (Sr. Unsecured: 81.25, 9/18/13)

Highlights

The presenter believes the senior unsecured debt of OSX3 presents a very favorable risk/ reward at current levels (low 80s), and he has established a long position. Despite the drama surrounding the potential bankruptcy of Eike Batista’s OGX Petroleo & Gas Participacoes (OSX Brasil is OGX’s shipbuilding/ services sister company), the OSX3 floating production storage and offloading (FPSO) vessel is a unique asset and downside risk may be protected by the value of the OSX3’s FPSO on the open market.

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Idea Discussion

Commentor 1 - 2 weeks ago

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