Braskem Creditors Demand $3B Equity Injection Amid Debt Restructuring
15 Articles
15 Articles
Braskem creditors are asking the company's controllers to inject $3 billion in new capital, according to people who are aware of the issue — a sign of growing tensions in the negotiations to restructure a debt of about $11 billion. Exclusive material for subscribers. To have full access, access the link of the subject and register.
Braskem creditors demand $3B equity injection amid debt restructuring
Braskem SA (BAK) creditors are demanding that controlling shareholders Petrobras (PBR) and IG4 Capital Group inject $3B in fresh equity into the troubled Brazilian petrochemical producer, according to a report by Bloomberg.
Braskem Creditors Ask Owners for $3 Billion Capital Injection
Petrobras's deputy councillor, Magda Chambriard, has refused this Thursday to extend her control over Braskem petrochemicals unless the other investors match the capital injection that could potentially be made by the Brazilian state oil company.
Petrobras (PETR4), as shareholder of the petrochemicals Braskem (BRKM5), participates in the process of extrajudicial recovery and understands that a consensus with creditors will be reached, said the director of Industrial Processes and Products of the state, William France, on Thursday (24). We are looking to guarantee a capital structuring plan within the RE (extrajudicial recovery), that [...]
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