Brazil’s Odebrecht makes progress in bank talks as bond deadline nears

Brazilian engineering conglomerate Odebrecht SA is making progress in talks with leading bank creditors about a potential loan package days before the due date to repay $144 million its construction unit owes to bondholders, three sources with knowledge of the matter told Reuters.

An agreement may be reached as soon as this Tuesday, the sources added, asking for anonymity because the negotiations are private.

Brazil’s two top lenders, Itaú Unibanco Holding SA and Banco Bradesco SA, are discussing a joint 2.6 billion reais ($710.7 million) loan.

Read more

Leave a Reply