This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Braskem’s Dollar Bonds Continue to Drop Further with RCF Renewal Talks in Progress
September 25, 2025
Braskem’s dollar bonds continued to drop across the curve by ~2 points. The Brazilian petrochemical company is said to be in talks with a group of 11 banks to renew a $1bn revolving credit facility (RCF) that expires next year. The company is seeking to renew the deal without offering collateral. However, this is likely a challenge given its recent financial difficulties, analysts said. Braskem, has faced a difficult year due to weak demand, oversupply in the petrochemical market, and a major environmental disaster that made it a fallen angel. Besides, the potential takeover by Brazilian tycoon Nelson Tanure has also raised fears of a restructuring. Moody’s, S&P and Fitch have all downgraded Braskem’s debt to B2/B+/BB- respectively, citing ongoing cash burn and rising debt levels. Braskem’s had ~$1.7bn in cash as at end-June, about $1.1bn less than the levels seen a year earlier. At the same time, its debt coverage fell to 30 months vs. 61 months reported a year earlier (not accounting for the RCF). Analysts added that any inability to renew the RCF would be a significant concern for the company.
Braskem’s 8% 2034s fell by 2.6 points to trade at 56.5, yielding 17.9%.
For more details, click here
Go back to Latest bond Market News
Related Posts:
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.