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Exclusive: Brazil's Odebrecht to propose bondholder losses of over 70 percent - sources

Reuters  |  SAO PAULO 

By Tatiana BautzerSAO PAULO (Reuters) - Brazilian conglomerate Odebrecht SA next week will ask its bondholders to accept losses of more than 70 percent from their bonds' face value as part of a restructuring, two sources with knowledge of the matter said on Wednesday.Around $3 billion in outstanding Odebrecht Finance Ltd bonds will be affected, the sources added, asking for anonymity to disclose private plans. The exact size of the haircut is still undefined, but the person said it could be between 70 percent and 80 percent of the bonds' value.The restructuring proposal, which will also ...

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First Published: Thu, February 21 2019. 03:24 IST