Petroperu to Begin Creditor Talks to Delay Key Financial Audit

Peru’s state-run oil company has begun the process of negotiating with creditors to delay the release of a key financial statement in a bid to avoid a default before the end of the month.

Members of Petroperu SA’s board of directors, including its new chairman Humberto Campodonico, will hold talks with creditors in Madrid beginning on Tuesday and will travel to meet with bondholders in New York next week, according to a company spokesman.

Petroperu is seeking creditor approval to delay the release of the 2021 audited financial statement before a May 31 deadline outlined in the bond’s contract, ...