Brazilian engineering company Odebrecht SA will not repay a bond worth 500 million reais ($144 million) due on Wednesday and is counting on bank loans to make the payment during a 30-day grace period, a person with direct knowledge of the matter said on Tuesday.
Construction unit Odebrecht Engenharia e Construção (OEC) is waiting for its parent to conclude an agreement with Brazilian lenders that will allow the unit to repay the bond, the source added, requesting anonymity since talks were still private.
Brazil Energy Insight 
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