Financing ·
Braskem discloses non-binding restructuring proposals to creditors with milestone extended to Oct 30
BAKBraskem SA
Braskem disclosed updated business plans and competing non-binding proposals for an extrajudicial reorganization plan to certain holders of its senior notes and debentures. The company presented a proposal on October 23, followed by a counter-proposal from investors on October 24. Neither side has accepted the other's terms, and no agreement has been reached. Braskem extended the negotiation milestone deadline to October 30, 2026, while continuing discussions with creditors regarding debt-to-equity conversions, equity rights offerings, and claim treatments totaling approximately $10.9 billion in subject claims. The company operates in the petrochemical industry, producing plastics and chemicals primarily in Brazil, the US, and Europe.