Braskem expects to reach debt restructuring deal with creditors

Braskem: Braskem is a major Brazilian petrochemical producer with operations spanning plastics and chemicals manufacturing. The company is actively negotiating with creditors to restructure its debt obligations and avoid bankruptcy. Recent board-level discussions and proposals underscore its push for a consensual out-of-court resolution. Petrobras: Petrobras is Brazil's state-controlled integrated energy company focused on oil and gas exploration, production, and related activities. An executive from the company who serves on Braskem’s board publicly stated expectations for a creditor agreement on debt restructuring. This reflects Petrobras’s ongoing role as a key stakeholder and potential supporter in Braskem’s financial stabilization efforts. Legal Framework: Braskem has filed for extrajudicial reorganization in Brazilian courts to facilitate creditor negotiations and maintain operational stability. Shareholder Role: Petrobras is participating in discussions around capital support structures as part of Braskem’s broader financial restructuring process. Debt Negotiations: Braskem has submitted and refined restructuring proposals to bondholders following initial rejections, with ongoing mediation and court protections in place.