Odebrecht Creditor to Plan Triggering Debt Cross-Default

Brazilian lender Caixa Economica Federal is considering taking steps that would force Odebrecht SA to seek bankruptcy protection, according to people with knowledge of the matter.

The government-owned bank is planning to ask the holding company to accelerate debt payments by triggering a cross-default clause after Odebrecht’s ethanol unit Atvos SA filed for court protection from creditors last week, said the people, asking not to be named because the discussions are private.

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