Language:

  • After approval by 73% of creditors, OEC files a debt restructuring plan in court

    DATE: 08/20/2020

    Published by: Odebrecht Engineering & Construction

    OEC has formalized the request for restructuring its debt in São Paulo Court after obtaining, last week, the consent of more than 73% of creditors after a long period of negotiations among the parties. This new stage will start the process of approval and implementation of the conditions negotiated in Brazil and abroad. Under the agreement, the debt of BRL 3.3 billion was reduced by 55%, extending the initial payment terms of the principal by 4.5 years and a grace period on interest for 3 years, spread over up to 5 years.

    For Marco Siqueira, CEO of OEC, the approval of the Debt Restructuring Plan by international creditors is another important demonstration of confidence by the market. “Together with a new governance, a board of directors with the participation of independent members, centralized internal controls, financial stability and achievement of new works will allow OEC to continue providing the best solutions in the category for its clients and to accelerate, always in a sustainable manner, the growth of its operations”, said the officer.

     

     

    No comments

    Want to learn more
    about the subject?

    Click here and leave you suggestion
    for the next post

    Related news

    +
    0

    On August 19, the Guaratuba Bridge project—being executed on the coast of Paraná by the Nova Ponte Consortium, composed...

    August 25, 2025
    +
    0

    On August 5, the Industrial Knowledge Community of Odebrecht Engineering & Construction held a webinar focused on the reality...

    August 20, 2025
    +
    0

    On August 13, the Social Communication and Occupational Safety departments of the ViaSul Construction Consortium carried out an educational...

    August 18, 2025
    +
    0

    For the 12th time, Odebrecht Engineering & Construction has earned the Gold Seal from the Brazilian GHG Protocol Program,...

    August 14, 2025