Braskem is trading BRL 4.75, down 11.05%, after creditors rejected its bond-exchange proposal.
- Reuters reported creditors rejected management’s proposed repayment structure.
- Bloomberg said bondholders are pressing Petrobras for fresh capital through an equity contribution, working capital, or junior debt.
- The impasse is especially concerning ahead of Braskem’s August 24 deadline to secure creditor support for an out-of-court restructuring.