8/103 sources · 3 publishersUpdated Oct 26, 00:58 UTC
Braskem and creditors close in on $11 bn debt restructuring
Brazilian petrochemical firm Braskem and its bondholders are negotiating a restructuring of roughly $11 billion of debt. Creditors propose about $4 billion of cash and debt‑to‑equity conversion, while Braskem’s plan calls for about $5 billion. Both sides agree on a $2.25 billion follow‑on share offering and have until 22 Nov to finalize the deal, which would keep Petrobras and IG4 Capital in control.
Why it matters
The agreement would avert a bankruptcy filing and shape future equity dilution and creditor ownership, influencing Braskem’s bond and share prices.
Key facts
- 1The restructuring targets roughly $11 billion of debt. investing.com
- 2Creditors’ proposal totals about $4 billion in initial capital and debt conversion. investing.com
- 3Braskem’s proposal totals about $5 billion in initial capital and debt conversion. investing.com
- 4Both parties agree on a $2.25 billion follow‑on share offering. finance.biggo.com
- 5The parties have until 22 Nov to reach an agreement. investing.com
- 6Petrobras and IG4 Capital would retain control under Braskem’s plan. investing.com
Summary written by AlphAI AI Desk from 3 of 3 sources. Not investment advice. Figures are as stated by the linked sources.