Braskem and Bondholders Edge Toward $11 Billion Debt Restructuring Deal — BigGo Finance

Carlos Slim Helu and related parties disclosed a 6.5% stake in BRASKEM SA's Class A preferred shares, according to a November 6, 2026, Schedule 13D filing. The group, which includes family members and foundations, acquired the shares for investment purposes and has no current plans to influence the company's control or operations. They may discuss the company with management or propose changes in the future.

Braskem's creditors extended the restructuring deadline to 30 October 2026 and requested a US$1.85 billion capital commitment from shareholders, proposing a US$1.85 billion debt-to-equity swap. Braskem offered a US$1.7 billion capital injection in installments. The restructuring covers US$10.9 billion of debt, with a US court receiving a Chapter 11 petition against Braskem's US finance unit.

Braskem and its creditors are nearing a debt restructuring agreement for $11 billion. Both parties propose an equity offering with capital injections and a debt-to-equity swap, with amounts differing between $4 billion and $5 billion. This is the closest the two sides have been to a deal during out-of-court restructuring talks, according to sources.

Braskem (BVMF) and creditors are close to a $11bn debt restructuring deal, with proposals involving equity injections and debt-to-equity conversions. Creditors' plan includes $4bn in initial capital, while Braskem's proposal totals $5bn. Both sides have until November 22 to finalize the agreement, with Petrobras (NYSE:PBR) and IG4 Capital Group retaining control under Braskem's plan.

Three funds holding US$272 million of Braskem America Finance's bonds filed an involuntary Chapter 11 petition in New York. Braskem states only the finance unit is affected, not the parent company. The 2041 notes are guaranteed by Braskem S.A., which is negotiating debt restructuring in Brazil.

Petrobras CEO Magda Chambriard stated the company will not increase its stake in Braskem unless other shareholders do the same. Braskem, which has $11B in debt, is negotiating restructuring with creditors. Petrobras aims to finalize preliminary terms by October 9. Petrobras owns 36.1% of Braskem, with 47% voting rights.