Odebrecht deals with US$4.5 billion debt in Brazil’s “largest ever” extrajudicial restructuring

Odebrecht deals with US$4.5 billion debt in Brazil’s “largest ever” extrajudicial restructuring

An offshore oil drilling group owned by Brazilian conglomerate Odebrecht has entered into agreements with creditors to restructure its 15 billion reais (US$4.5 billion) debt pile, and has signalled its intention to file for Chapter 15 recognition once the agreements receive court sanction.

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