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Odebrecht decides not to & # 39; pay interest and start negotiations between billions between $ 3 billion



The financial situation of its construction company has been severely weakened this year, due to the difficulties faced by it; to bring reasons into his jobs

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26 Nov 2018, 13h34

São Paulo – A Odebrecht Engineering and Construction (OEC) for creditors, owners liaise $ 581 million to & # 39; By 2025, an interest of $ 11.5 million of an adult increase on 25th October, according to a document issued by Broadcast, a Grupo Estado real-time news system, will not be paid. Since that time, the OEC has been using a 30-day period under contract to pay.

In the same conversation you sent to tasks, he said that he had suspended Moelis & Company's financial adviser and Munhoz Advogados and Cleary Gottlieb Steen & Hamilton to start debates with some of his key beliefs.

As the Broadcasting Column was waiting for Friday, its & # 39; construction company start to & # 39; The restructuring of all banned bills, something that the outside belief was incredible since Lava Jato's studies began about three years ago.

In these discussions, papers will, which, together, add up to $ 3 billion. There was a portion of the bondholders, holding about 25% of the OEC bands, and # 39; hire Rothschild. Among these creators would be BlackRock, Fidelity, Gramercy and AllianceBernstein. The middle lenders are still organized to get into the process.

In April, b & # 39; OEC can first avoid these speeches after part of a loan of R $ 2.6 billion from Bradesco and Itaú Unibanco to its holding company, with a respect of R $ 500 million.

At that time, the developer also liked the & # 39; 30-day grace and, with the permission of bannocks supporters, he finished paying their commitment after this border. The delay caused the delay in negotiations with banks to receive the loan, which included the Braskem shares as a consensus, which was given in other loans.

The OEC came to indicate that, when the funding was released to the property company, many would go over to the construction company, with which the next payments of the merits of the merit were guaranteed, as well as maintaining their work. company.

However, the financial situation of its construction company has weakened significantly this year, due to the difficulties in rebuilding its care, as well as its. group to submit property sales. By the end of the second, the portfolio of the OEC project was reduced to around $ 9.8 billion from $ 12.1 billion in December 2017. Its money was $ 456 million in June.

In mid-year, Atvos changed, for example, to its discussion boards with the banks to re-invent debt on R $ 13 billion already and it was repeated already two years ago.

Atvos, formerly Odebrecht Agroindustrial, will have a & # 39; the first company in the organization whose duties have been designed, so that a legal decision can not be requested; group or part of it. Braskem shares have been taken as a commitment at the time to some vans.


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