Bondholders oppose Odebrecht restructuring

Bondholders oppose Odebrecht restructuring

Asset Management Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Project & Infrastructure Finance Politics Regulation Brazil

Bondholders have come out against the proposed restructuring plans from Brazil's Odebrecht, doubting that the company can get back on its feet again. "Odebrecht needs to go away," one investor told LatinFinance. "The company has no intellectual capital or otherwise. I don't even think [its bonds] are worth 37 cents on the dollar and I wonder who will ever do business with them." Odebrecht is working on a restructuring plan that asks bondholders to accept a discount of 70% to 80% on $3bn in outst

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