March 4, 2019 |
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
Investors fume at request to take an 80% haircut on $3bn in outstanding notes