Samarco Mineracao SA, a bankrupt joint venture between Brazilian miner Vale SA and BHP Group Ltd, proposed on Thursday a plan to restructure 50 billion reais ($10 billion) in debt with an offer of preferred shares or a cash payout in 2041 equal to 15% of the current value of holdings, Reuters reported. Samarco filed for bankruptcy protection in April to prevent creditors' claims from affecting operations that restarted at the end of 2020, more than five years after a tailings dam collapsed causing one of Brazil's worst environmental accidents.

LATAM Airlines Group, the region’s largest carrier, said on Wednesday that it had sought to extend until September the deadline to present its restructuring plan as part of the bankruptcy protection process initiated in 2020, Reuters reported. LATAM filed for bankruptcy protection in the U.S. in May of last year, hammered by the world travel crisis generated by the coronavirus pandemic. At the time, it was the world’s largest airline to take such action due to COVID-19.

Brazilian metropolitan rail company Supervia filed for bankruptcy protection on Monday, the company said, as traffic was sharply hit by the COVID-19 pandemic, Reuters reported. The company, controlled by a Japanese group that includes a subsidiary of Mitsui & Co 8031.T and West Japan Railway Co 9021.T, will restructure 1.2 billion reais ($237.4 million) in debt. Before the pandemic, Supervia, which operates in Rio de Janeiro metropolitan area, had around 600,000 passengers a day but now the number has dropped to 300,000.

Peru’s currency and stocks tumbled after incomplete results of Sunday’s presidential runoff showed the leftist candidate gaining momentum even as he trailed by a thin margin in the count, Bloomberg News reported. The sol headed to its biggest drop in more than a decade at one point and the S&P/BVL Peru General Index fell as much as 6.8%, the most since November, with mining companies and financial firms among the hardest hit. Overseas bonds edged lower in light trading while the cost to insure against a default climbed.

Latam Airlines Group SA Chief Executive Roberto Alvo, seeking to stave off an overture from rival Azul SA, said the bankrupt air carrier’s Brazilian operations aren’t for sale, Bloomberg News reported. Santiago-based Latam, which has now been in U.S. bankruptcy for more than a year, has its sights set on a strong chapter 11 exit -- not a piecemeal sale of the business, Alvo said in an interview Wednesday. The carrier’s shares briefly slumped last week after it denied reports that Azul SA planned to buy Latam’s Brazilian subsidiary.

Colombia may start relying more heavily on shorter-term debt sales to cover its budget shortfalls, seeking to drive down interest costs after a failed tax-reform push triggered social unrest and sent yields higher. Yields on longer-term bonds fell, Bloomberg News reported. Public Credit Director Cesar Arias, a Finance Ministry official who is in charge of the government’s borrowing, said in an interview that he will begin to discuss with investors whether to scale back the maturities on some of the bonds it sells at auction.

Authorities in Brazil are investigating senior employees at Connecticut-based trading house Freepoint Commodities for their alleged role in a bribery scheme involving state-run oil company Petrobras, Reuters has learned. Federal police here suspect Freepoint, through an intermediary, routed bribes to Petrobras employees for a roughly seven-year period ending in 2018. Reuters pieced together the purported kickback operation from three people close to the investigation, and hundreds of pages of previously unreported court documents filed by Brazilian investigators.

Argentine power-plant owner Stoneway Capital Ltd. is discussing borrowing money from the senior bondholders challenging the company’s U.S. bankruptcy filing and pushing to relocate the restructuring to Canada, WSJ Pro Bankruptcy reported. Stoneway, seeking to finance its stay in bankruptcy, is discussing potential loan terms with senior bondholders and junior creditors, as well as potential outside lenders, the company’s lead lawyer, Fred Sosnick, said at a virtual hearing on Friday in the U.S. Bankruptcy Court in New York. The bondholders, including BlackRock Inc.

Peru’s closely watched presidential election race between two polarized candidates is the latest in a string of political risk events haunting investors in Latin America, a region struggling to keep up with its global peers despite a commodities boom, Reuters reported. Latin America was engulfed in social unrest before the COVID-19 pandemic hit. Now a string of elections that continues into 2022, protests in Colombia and upheaval over Chile's constitution have investors bracing for a new wave of uncertainty over policy making.