We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
Braskem’s Creditors Seek Capital From Petrobras
August 11, 2026
– Vandit P
Braskem’s bondholders are pressing Petrobras to commit fresh capital as its August 24 deadline approaches to reach an out-of-court restructuring and avoid judicial recovery proceedings. Creditors want a firmer financial commitment from Petrobras, such as an equity contribution, working capital, or junior debt. However, as per sources, Petrobras has resisted, partly to avoid consolidating Braskem’s debt onto its own balance sheet. Petrobras and IG4 Capital jointly control Braskem, with Petrobras focused on operational matters and IG4 leading creditor negotiations. Negotiations have gained momentum recently after bondholders submitted a new counterproposal that Braskem views favorably, subject to minor adjustments. The company needs support from holders of at least one-third of its debt to avoid a bankruptcy filing. Braskem obtained emergency creditor protection in late-June, suspending enforcement actions for 60 days after talks stalled. If an out-of-court deal is reached, Brazilian law allows a further 90-day period to finalize restructuring terms.
Braskem’s 4.5% 2028s were trading stable at 57.0 cents on the dollar
For more details, click here
Go back to Latest bond Market News
Related Posts:
Braskem Announces ~$1.45bn Share Offering
January 17, 2022
Braskem Idesa Upgraded to BB- by Fitch
March 28, 2022
Braskem’s Dollar Bonds Rally on Reports of Stake Acquisition
February 2, 2024
Our Awards
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.