Brazil

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Creditors of Brazil's Oi Balk at Revised Debt Restructuring Plan

The two biggest bondholder groups in Brazilian telephone operator Oi SA said on Friday they "strongly oppose" the terms of a new debt restructuring plan the company intends to present in bankruptcy court, Reuters reported. Claiming the proposed ...

Daily Headline - global.abi.org - 03/26/2017 - 19:59 - 0 comments

Oi Shares Jump on Debt Plan; Capital Questions Remain

A new reorganization plan from Brazil's debt-laden phone carrier Oi SA boosted shares on Thursday, but analysts continued to focus on the need for fresh capital after a heavy fourth-quarter loss, Reuters reported. Changes to the plan revealed late o ...

Daily Headline - global.abi.org - 03/23/2017 - 22:37 - 0 comments

Brazil's Grupo Schahin Defeats Itaú Challenge to Debt Plan

Grupo Schahin said on Monday it can execute a reorganization plan after an appeals court favored the ailing Brazilian engineering and rig-leasing conglomerate over disgruntled creditors, according to a statement, Reuters reported. The reorganization, con ...

Daily Headline - global.abi.org - 03/13/2017 - 22:05 - 0 comments

Bulls Reign in Brazil as Reform Push Offsets Graft Scandal

It’s hard to find a pessimist among Brazil investors these days, even though there’s plenty to be worried about. Traders who pushed the real and Ibovespa stock index to some of the world’s biggest gains over the past year see a rosy outlook for President ...

Daily Headline - global.abi.org - 03/12/2017 - 20:25 - 0 comments

Odebrecht Probes Proliferate in Latin America

Investigations into Brazil’s embattled construction giant Odebrecht SA are exposing a larger network of graft in Latin America than was already revealed in a massive anticorruption settlement, according to prosecutors in several countries, The Wall Str ...

Daily Headline - global.abi.org - 03/08/2017 - 22:57 - 0 comments

Pharol's Mora Resigns from Board of Brazil's Oi

Pharol SGPS SA, the controlling shareholder of Brazil's debt-laden telephone carrier Oi SA, said in a statement on Tuesday that Rafael Mora had resigned as Pharol's executive director and a member of Oi's board, Reuters reported. João do P ...

Daily Headline - global.abi.org - 03/07/2017 - 22:53 - 0 comments

Brazilian Court Grants PDG Realty Bankruptcy Protection

A São Paulo court granted Brazilian homebuilder PDG Realty SA bankruptcy protection on Thursday, the company said in a securities filing. PDG sought protection from creditors last week to enable it to restructure its debt, Brazil's second publicly l ...

Daily Headline - global.abi.org - 03/03/2017 - 08:39 - 0 comments

‘No Chance’ Brazil Government Waives Oi Debt, Minister Says

Brazil’s government can’t waive Oi SA’s debt with a local regulator and state-run banks, the communications minister said, denying the phone carrier a lifeline that would have helped it pull out of the biggest bankruptcy in the country’s history, Bloombe ...

Daily Headline - global.abi.org - 02/26/2017 - 23:56 - 0 comments

Brazil Builder PDG Seeks Court Protection from Creditors

Brazilian homebuilder PDG Realty SA said it was seeking protection from creditors by filing on Wednesday to restructure its debt in court, the country's second publicly listed builder to do so in less than six months, Reuters reported. PDG's gr ...

Daily Headline - global.abi.org - 02/22/2017 - 22:45 - 0 comments

BTG Revival Strategy Moves to Chile With Plans to Boost Lending

Grupo BTG Pactual, the Brazilian lender that slashed its workforce in 2016 and sold off assets to survive a liquidity crisis, is investing in Chile with plans to start lending, Bloomberg News reported. Rodrigo Oyarzo joined BTG to head the new credit bus ...

Daily Headline - global.abi.org - 02/22/2017 - 22:45 - 0 comments

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