Brazil

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Brazil's Triunfo Clinches $673 Million Restructuring With Banks

TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms to restructure 2.113 billion real ($672.6 million) of debt, giving the Brazilian infrastructure firm a lifeline to finalise projects and downsize gradually ...

Daily Headline - global.abi.org - 07/23/2017 - 21:59 - 0 comments

Brazil's Oi Board Approves $2.5 Billion Capital Raise Plan

The board of Oi SA on Wednesday approved a plan to raise 8 billion reais ($2.5 billion) in fresh capital from shareholders and investors as a way to accelerate the Brazilian wireless carrier's emergence from bankruptcy, Reuters reported. In a statem ...

Daily Headline - global.abi.org - 07/19/2017 - 23:02 - 0 comments

Political Meltdown Foils Oi Exit From $19 Billion Bankruptcy

For more than a year, Oi SA has struggled to reach a deal with various factions jockeying for a leg up in its $19 billion bankruptcy case, Bloomberg News reported. Almost entirely absent from that process? The company’s single biggest creditor. Brazil’s ...

Daily Headline - global.abi.org - 07/10/2017 - 22:04 - 0 comments

Scandal, Debt Turn Brazilian Champion Into a Cautionary Tale

A year into its bankruptcy saga, Oi SA is reinforcing to the rest of the world that Brazil is a hazardous place even for the most experienced of investors. In the two decades since the telecom giant was privatized, it’s been strong-armed into disastrous ...

Daily Headline - global.abi.org - 06/27/2017 - 22:04 - 0 comments

Brazil's Oi Unveils Plan to Repay Small Creditors

Oi SA has unveiled a plan that facilitates the early repayment of small debts to suppliers and contractors, as Brazil's No. 4 wireless carrier seeks to emerge faster from creditor protection, Reuters reported. The plan was made public in newspaper a ...

Daily Headline - global.abi.org - 06/25/2017 - 22:00 - 0 comments

Brazil Banks Struggle to Sell $4.2 Billion of Seized Collateral

Brazilian banks are wrestling with a growing pile of assets they’d rather not own: at least 13.8 billion reais ($4.2 billion) of cars, real estate, equipment and other collateral seized when borrowers defaulted on their loans, Bloomberg News reported. Th ...

Daily Headline - global.abi.org - 06/20/2017 - 21:32 - 0 comments

Brazil Banks Struggle to Sell $4.2 Billion of Seized Collateral

Brazilian banks are wrestling with a growing pile of assets they’d rather not own: at least 13.8 billion reais ($4.2 billion) of cars, real estate, equipment and other collateral seized when borrowers defaulted on their loans, Bloomberg News reported. Th ...

Daily Headline - global.abi.org - 06/20/2017 - 21:22 - 0 comments

Debt Talks Said to Stall Between Brazil's CSN and Creditors

CSN’s failure to deliver its financial statements is stymieing talks with creditors, according to people with knowledge of the matter. Latin America’s most indebted steelmaker has yet to file audited financial statements for 2016 and the first quarter of ...

Daily Headline - global.abi.org - 06/11/2017 - 22:34 - 0 comments

Brazil's OGPar Files for Permission to Exit Bankruptcy

Óleo e Gás Participações SA , the oil firm founded by Brazilian tycoon Eike Batista, said on Friday it filed for permission from a court in Rio de Janeiro to exit bankruptcy, Reuters reported. In a securities filing, it said it has fulfilled all its obli ...

Daily Headline - global.abi.org - 06/04/2017 - 21:59 - 0 comments

Brazil Distressed-Asset Firm Shifts Partnership, Boosts Target

Brasil Distressed, the troubled-asset buyer also known as BrD, shuffled its partnership and said it plans to step up purchases this year, Bloomberg News reported. BrD aims to invest in as much as 1.5 billion reais ($460 million) in soured debt from mid-s ...

Daily Headline - global.abi.org - 05/31/2017 - 22:13 - 0 comments

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