Petrobras Mulls Improving Braskem Credit Terms Amid Debt Talks

Brazil’s Petrobras is weighing whether to grant improved payment terms to Braskem on some contracts as the petrochemical producer races against the clock to find a solution for its debt woes ahead of an August 24 deadline to avoid filing for bankruptcy protection, according to people familiar with the matter.

By Cristiane Lucchesi and Peter Millard