Braskem’s $11 Billion Debt Rework Puts Spotlight on Petrobras

Braskem SA’s announcement of an $11 billion debt restructuring staved off an immediate crisis that would have pushed it into bankruptcy protection. But the parties remain far apart on key issues ranging from terms of shareholder support to how existing debt will be reworked.

By Rachel Gamarski, Giovanna Bellotti Azevedo and Cristiane Lucchesi