August 11, 2017
Copper producer Paranapanema has signed a $616m debt restructuring with its main creditors, according to a statement from the company.
The obligation of the creditors to implement the debt restructuring is subject to a commitment by Paranapanema to issue new shares and the conversion of convertible debentures into shares by the Creditors.
Paranapanema will make a capital increase through a public offering of shares, under Brazil's Rule 476. It is estimated that the amount to be offered by the co
Brazilian copper producer inks a $616m agreement with its main creditors