Financing ·
Braskem S.A.'s subsidiary, Braskem Idesa, announced a consensual restructuring agreement with major stakeholders to…
BAKBraskem SA
Braskem S.A.'s subsidiary, Braskem Idesa, announced a consensual restructuring agreement with major stakeholders to raise new funds and reduce senior debt from approximately US$2.5 billion to US$1.6 billion. To implement this solution, Braskem Idesa filed for Chapter 11 bankruptcy protection in the U.S., with completion expected within 60 to 90 days. As part of the deal, parent company Braskem will contribute US$476 million, including approximately US$126 million already provided, and retain its majority stake. Operations are expected to continue normally. Braskem S.A. operates in the petrochemical industry, producing plastics and chemicals.