Pimco-Led Group Hires Houlihan Lokey for Oil Firm Restructuring

Pacific Investment Management Co. is among bondholders that have hired Houlihan Lokey Inc. to advise on a new debt restructuring of Brazilian oil and gas company Ocyan SA, according to people familiar with the matter.

Ocyan, formerly known as Odebrecht Oil & Gas SA, is trying to avoid an outright default by negotiating with creditors in order to reorganize its debt payments, the people said, asking not to be named because the discussions are private.

Moneda Asset Management is also among the firm’s biggest bondholders. The creditor group has also hired Pinheiro Neto Advogados and Cleary Gottlieb Steen & ...