Braskem SA is moving to pursue an out-of-court restructuring of its debt in Brazil, according to reporting from Brazilian media. Bloomberg says the company reaches an agreement with its main creditors to pursue the process, citing O Estado de Sao Paulo.
The Rio Times adds that Braskem files for the out-of-court restructuring on 24 August 2026 and that the proposal covers about US$10.9 billion in unsecured debt. It reports that creditors holding 39.6% of the debt back the plan, exceeding a one-third threshold. The outlet also notes that Petrobras is negotiating separately over a US$456 million credit line.
Across the accounts, the core development is Braskem’s decision to use an out-of-court route with creditor participation, rather than a formal court-led process. The details vary by outlet, including emphasis on agreement with major creditors versus the specific size of the debt covered and the level of creditor support disclosed in the filing.
