Billionaire Batista’s Off-Book OGX Liabilities Revealed

OGX Petroleo & Gas Participacoes SA, which has the worst-performing bonds in emerging markets this year, holds off-balance-sheet obligations tied to its sister-company that could swell liabilities by as much as 39 percent in the event of insolvency, according to Covenant Review.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.