Braskem creditors, shareholders near deal on $11bn debt restructuring - Bloomberg

Brazilian petrochemical company Braskem and its creditors are nearing a deal to restructure approximately $11 billion in debt, potentially averting a bankruptcy filing. According to Bloomberg, the negotiations are advancing with both sides considering proposals involving fresh equity injections and debt-to-equity conversions. While the creditors' proposal would involve $4 billion in initial capital and debt conversion, Braskem's plan suggests $5 billion. However, significant differences remain, and an agreement is not guaranteed.

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