Brazil

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Brazil Senate Begins Impeachment Trial for Dilma Rousseff

Testimony began Thursday in the impeachment trial of suspended Brazilian President Dilma Rousseff, amid occasional shouting matches and mutual accusations between opposing lawmakers, The Wall Street Journal reported. “From now on, you will be judges, ...

Daily Headline - global.abi.org - 08/25/2016 - 23:57 - 0 comments

Brazil Ruling Allows Bailout of Rio 2016

A Rio judge ruled Wednesday that the local Olympic organizing committee could be bailed out with public funds, a setback to prosecutors who had sought transparency in the committee’s budget first, The Wall Street Journal reported. Federal Judge Guilh ...

Daily Headline - global.abi.org - 08/18/2016 - 00:01 - 0 comments

Banks, Bondholder Group Eye Brazil's Oi Debt Relief

Banks and bondholders accounting for more than half of Oi SA's debt of 65.4 billion reais ($20 billion) are considering proposing a 5-year grace period and lower borrowing costs to speed up the Brazilian phone carrier's in-court reorganization, ...

Daily Headline - global.abi.org - 08/16/2016 - 22:38 - 0 comments

Sete Brasil To Seek Up To $5 Billion Funding In Reorganization Plan

Sete Brasil Participações SA presented a draft reorganization plan on Friday that includes seeking up to $5 billion in funding and downsizing business, three months after the Brazilian rig leaser sought court protection against 18 billion reais ($5.7 bil ...

Daily Headline - global.abi.org - 08/14/2016 - 17:01 - 0 comments

Brazil's BNDES Posts Hefty Quarterly Loss On Provision Jump

State development bank BNDES, Brazil's main source of long-term credit for companies, posted a net loss in the second quarter, reflecting the burden of soaring loan-loss provisions as corporate defaults and bankruptcies hit all-time highs. In a Frid ...

Daily Headline - global.abi.org - 08/14/2016 - 17:03 - 0 comments

Brazil Oi's In-Court Reorganization Helps Ease Cash Burn

0.43 percent at 2.33 reais on Thursday. On the financial side, the suspension of pending debt payments ...

Daily Headline - global.abi.org - 08/11/2016 - 21:45 - 0 comments

Brazil's Bom Jesus Offers Creditors Debt-For-Land Swap In Reorganization

Grupo Bom Jesus, a Brazilian grain producer that filed for bankruptcy protection in May, has offered creditors stakes in a farm that could be later sold, in an effort to restructure 2.6 billion reais ($826 million) in debt, Reuters reported. According to ...

Daily Headline - global.abi.org - 08/10/2016 - 21:41 - 0 comments

Brazil's Oi To Unveil Reorganization Plan By Early September

Phone carrier Oi SA, which filed in June for Brazil's largest ever in-court reorganization, will present a plan to overhaul business and repay creditors later this month or by early September, Chief Executive Officer Marco Schroeder said on Wednesda ...

Daily Headline - global.abi.org - 08/10/2016 - 21:42 - 0 comments

Minority Investor In Brazil's Oi Calls Shareholders' Meeting

Société Mondiale, a minority shareholder of Brazilian telephone company Oi SA, said on Monday it would formally call a shareholders' meeting next month to discuss changes to the company's board of directors, according to a statement sent to Reu ...

Daily Headline - global.abi.org - 08/08/2016 - 22:33 - 0 comments

Brazil's Oi Refers Investor Meeting Request To Bankruptcy Judge

The board of Brazilian telephone operator Oi SA has referred to a bankruptcy judge an activist investor's request for legal action against company managers, its second straight bid to thwart the investor's moves, according to a securities filin ...

Daily Headline - global.abi.org - 08/04/2016 - 22:47 - 0 comments

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