Pacific restructuring takes vital step with DIP financing

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Cookies Settings
Emerging Markets
EM LatAm

Pacific restructuring takes vital step with DIP financing

Oliver West
June 22, 2016 11:30 PM
Puerto Gaitan, Pacific Rubiales
In this Feb. 13, 2015 photo, a man rides along a round about with a concrete arch at the entrance of Puerto Gaitan, Colombia. Soaring oil prices the past decade transformed this rural backwater into Colombia’s richest city as nearby fields pumped black gold, drawing new businesses, international pop stars and vanity art projects such as the biblical-themed arch that towers over these sweltering grasslands. Now, crashing crude prices have the 45,000 residents of Puerto Gaitan bracing for a big fall. (AP Photo/Fernando Vergara) | Fernando Vergara/AP/Press Association Images

Canadian-Colombian oil company Pacific Exploration & Production has raised $500m of debtor-in-possession financing from certain existing bondholders and private equity firm Catalyst Capital as it looks to wrap up a restructuring of its debt — including $4bn of bonds.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login

Topics

ColombiaLatAm BondsEmerging MarketsLatAm
OW
Oliver West
US Bureau Chief - Latin America Editor
Contact
Gift this article