Braskem owners finalize counter proposal to $3B capital demand

Braskem: Braskem is a leading Brazilian petrochemical company focused on the production of plastics, resins, and chemicals. It is currently engaged in out-of-court debt restructuring negotiations with its creditors following an August filing. The company's owners are preparing a counterproposal addressing demands for fresh capital as part of efforts to finalize an agreement. Creditor Position: Creditors have pressed for commitments from Braskem's controlling shareholders to provide additional capital as part of the restructuring process. Ownership Involvement: Negotiations involve Braskem's main shareholders, who are balking at the scale of requested capital and developing alternative terms. Restructuring Timeline: Braskem is working toward securing creditor approval by late November to avoid a potential bankruptcy filing.