Results for Brazil
- Brazil's Fibria Drops Controversial Covenant Language
Brazilian pulp and paper company Fibria dropped controversial language on a 10-year Green bond on Wednesday amid strong investor pushback, sources told IFR. Fibria was one of several companies this week to drop the aggressive terms, which make it easier ...
Daily Headline - global.abi.org - 01/11/2017 - 22:43 - 0 comments
- Brazil's Oi Creditor Group Proposes Debt Swap, $11 Billion Investment Plan
A group led by creditors and Egyptian billionaire Naguib Sawiris unveiled on Friday an alternative restructuring proposal for debt-laden Brazilian phone carrier Oi SA that contemplates 37 billion reais ($11 billion) in investments over five years in exch ...
Daily Headline - global.abi.org - 12/18/2016 - 16:31 - 0 comments
- Shipbuilder Ecovix, Units File For Bankruptcy Protection In Brazil
Ecovix Engevix Construções Oceánicas SA and five subsidiaries have filed for bankruptcy protection in a federal commercial court, succumbing to a debt burden of 8 billion reais ($2.4 billion) and a plunge in shipbuilding, Reuters reported. In a statement ...
Daily Headline - global.abi.org - 12/18/2016 - 16:32 - 0 comments
- Brazil May Ease Takeover Rules For Troubled Firms, Paper Says
The Brazilian government is considering easing legislation overseeing the acquisition of companies in distress or under bankruptcy protection by making buyers less liable for the burden of past obligations, O Estado de S. Paulo newspaper reported on Thur ...
Daily Headline - global.abi.org - 12/15/2016 - 19:53 - 0 comments
- Brazil’s Senate Passes Constitutional Amendment to Cap Public Spending
Brazil’s Senate on Tuesday approved a measure capping public spending, delivering a victory to embattled President Michel Temer, who is struggling to close a massive budget deficit and revive the nation’s moribund economy, The Wall Street Journal rep ...
Daily Headline - global.abi.org - 12/13/2016 - 21:01 - 0 comments
- Oi Open To Sweeter Terms For Creditors In Debt Deal
Oi, the Brazilian telecom operator at the centre of a R$65bn debt default, the largest in the country’s history, is likely to consider more favourable debt-for-equity swap conditions for creditors in talks this week, the Financial Times reported. Oi ...
Daily Headline - global.abi.org - 12/12/2016 - 20:46 - 0 comments
- Creditors To Present Brazil's Oi With New Restructuring Plan
A group of creditors of Brazil's struggling phone operator Oi SA, including export credit insurers and banks, plans to present to the company in the next two weeks a new restructuring proposal. The group, represented by FTI Consulting Canada ULC, Mi ...
Daily Headline - global.abi.org - 12/11/2016 - 22:18 - 0 comments
- Temer Moves To Cut Brazil’s Generous Pensions
President Michel Temer moved to lift Brazil’s retirement age to 65 from an average of about 54 as he tried to shore up market confidence in his government by reforming one of the world’s most generous social security systems, the Financial Times repo ...
Daily Headline - global.abi.org - 12/06/2016 - 23:07 - 0 comments
- Ferrovial In Talks To Acquire Isolux Projects In Brazil
Spain's infrastructure company Ferrovial SA is in talks to acquire from its Spanish rival Grupo Isolux Corsan SA three power transmission projects in Brazil, according to a Ferrovial letter seen by Reuters on Friday. Isolux is undergoing debt restru ...
Daily Headline - global.abi.org - 12/04/2016 - 20:42 - 0 comments
- Brazil's Oi Hints At Outright Debt-Stock Swap, Sources Say
Oi SA could scrap a proposed three-year restriction on creditors swapping part of their debt for equity, in a sign that Brazil's No. 4 wireless carrier wants to lure bondholder support to exit bankruptcy protection faster, two people with knowledge ...
Daily Headline - global.abi.org - 12/04/2016 - 20:43 - 0 comments