Financing ·
Braskem S.A. addressed media reports regarding a potential debt restructuring of approximately R$50 billion
BAKBraskem SA
Braskem S.A. addressed media reports regarding a potential debt restructuring of approximately R$50 billion. The company rejected two specific proposals from bondholders, including U.S. investment fund Elliott. One proposal involved a debtor-in-possession financing facility that would convert debt into equity, potentially reducing controlling shareholders' stake to less than 10%. A second proposal suggested extending bond maturities at current interest rates with all company assets pledged as collateral. Braskem is currently engaged in mediation to find a consensual solution for its capital structure while maintaining ordinary business operations. The company operates in the petrochemical industry.