We use cookies to improve your experience. By using BondbloX, you agree to our use of cookies.
Bond Market News
Braskem Creditors Reject Revised Restructuring Proposal
October 8, 2026
Braskem’s creditors rejected another restructuring proposal from the company and its shareholders, raising the risk that debt restructuring negotiations could collapse ahead of the key October 9 deadline. After talks broke down last month, Braskem’s shareholders offered around $1bn in fresh capital to support a follow-on equity offering, but only if the restructuring delivers a substantial reduction in the company’s debt burden. Creditors reportedly viewed the commitment as inadequate, particularly after previously seeking a $3bn capital injection from controlling shareholders Petrobras and IG4 Capital, a request that was rejected.
Braskem entered an out-of-court restructuring process in August. While Petrobras has become more involved in the discussions, it has so far resisted providing the legally enforceable capital commitment sought by creditors. If creditors and the company fail to reach an agreement, a majority of creditors could request termination of the out-of-court restructuring process, potentially paving the way for a bankruptcy filing. The situation is particularly sensitive because Petrobras is state-owned and the deadline falls during Brazil’s closely contested presidential election period.
Braskem’s dollar bonds continued to trade at distressed levels of 47-50 cents on the dollar.
For more details, click here
-Vandit P
Go back to Latest bond Market News
Related Posts:
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.