Ad-Hoc Group Issues Notice to Holders of Senior Secured Notes of OOG

NEW YORK--()--An ad-hoc group of holders of

(i) the 6.75% Senior Secured Notes due 2022 and 6.625% Senior Secured Notes due 2022 (collectively, the “2022 Notes”) issued by Odebrecht Offshore Drilling Finance Limited and guaranteed by Odebrecht Drilling Norbe Six GmbH, ODN I GmbH and ODN Tay IV GmbH, and

(ii) the 6.35% Senior Secured Notes due 2021 (the “2021 Notes”) issued by Odebrecht Drilling Norbe VIII/IX Ltd. and guaranteed by Odebrecht Drilling Norbe VIII LLC and Odebrecht Drilling Norbe IX LLC (the “Ad-hoc Group”)

has been engaged in negotiations with Odebrecht Óleo e Gas S.A. (“OOG”) for a potential restructuring of the 2021 Notes and 2022 Notes and negotiations are continuing. The Ad-hoc Group is represented by Cleary Gottlieb Steen & Hamilton LLP as U.S. legal counsel, Pinheiro Neto Advogados as Brazilian counsel, Blank Rome LLP, as U.S. conflicts counsel, and Houlihan Lokey Capital, Inc. and Metrica Investimentos, as financial advisors.

The Ad-Hoc Group recommends at this time that any other significant holders of the 2021 Notes and the 2022 Notes consider participating in the process.

Interested holders of the 2021 Notes or 2022 Notes should contact Jonathan Mendes de Oliveira at Cleary Gottlieb (jmendesdeoliveira@cgsh.com, telephone +1-212-225-2827 or +55 11 2196-7204) or Neel Chary at Houlihan Lokey (nchary@hl.com, telephone +1 212-497-7824).

Contacts

Cleary Gottlieb
Jonathan Mendes de Oliveira
+1-212-225-2827 or +55 11 2196-7204
jmendesdeoliveira@cgsh.com
or
Houlihan Lokey
Neel Chary, +1-212-497-7824
nchary@hl.com

Contacts

Cleary Gottlieb
Jonathan Mendes de Oliveira
+1-212-225-2827 or +55 11 2196-7204
jmendesdeoliveira@cgsh.com
or
Houlihan Lokey
Neel Chary, +1-212-497-7824
nchary@hl.com