Braskem says talks with creditors intensify, weighs protection measures - Valor International

Negotiations between Braskem and its financial creditors are ongoing and “have intensified,” but the terms of a restructuring for the petrochemical company have yet to be finalized.

Braskem made the statement in response to a request for clarification from Brazil’s Securities and Exchange Commission (CVM) regarding a report by newspaper O Globo stating that the company is expected to seek an out-of-court restructuring next week.

In the clarification released Thursday (20) night, Braskem also said it is considering “potential measures to protect against creditors” as the deadline for the suspension of enforcement actions approaches.

On June 26, a São Paulo court granted the company’s request for preliminary injunctive relief, suspending enforcement actions and asset seizures by certain creditors for 60 days. That period is due to expire next week.

This article was translated from Valor Econômico using an artificial intelligence tool under the supervision of the Valor International editorial team to ensure accuracy, clarity, and adherence to our editorial standards. Read our Editorial Principles.