Financing ·
Braskem S.A. filed for extrajudicial reorganization in Brazil to restructure approximately US$10.9 billion of…
BAKBraskem SA
Braskem S.A. filed for extrajudicial reorganization in Brazil to restructure approximately US$10.9 billion of unsecured debt obligations. The petition was supported by creditors holding 39.6% of the subject claims, including main shareholders Shine and Petrobras. The filing suspends enforceability of these debts immediately and grants a 90-day period to negotiate an updated plan involving maturity extensions, potential interest capitalization, shareholder liquidity support, possible equity contributions, and partial debt-to-equity conversion. Operations with suppliers and customers remain unaffected. Braskem S.A. operates in the petrochemical industry, producing plastics and chemicals.