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Bond Market News
Braskem Seeks Out-of-Court Debt Restructuring
June 3, 2026
Braskem is working to secure creditor support for an out-of-court restructuring ahead of debt payments due in July. The company is seeking backing from holders of at least one-third of its debt, which is the threshold required to file under Brazil’s extra-judicial restructuring framework. A successful outcome would lead to Braskem obtaining a 90-day standstill on payments. Braskem’s goal is to enter the process with broad terms already agreed upon by bondholder and bank groups, and then use the standstill window to build the majority creditor support needed to ratify a final plan. If out-of-court negotiations break down, seeking formal court protection through a precautionary measure remains an option. Besides, filing for outright bankruptcy also remains another option. Braskem has been hurt by a prolonged petrochemicals downturn, amid other issues including significant liabilities from the Alagoas mine disaster.
Braskem’s dollar bonds traded stable, with its 7.25% 2033s were at 57.6 cents on the dollar.
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