Odebrecht bankruptcy delays bondholder recovery

Odebrecht bankruptcy delays bondholder recovery

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Project & Infrastructure Finance Brazil US

Odebrecht's bankruptcy filing has made it more difficult for bondholders to recover up to $3bn in outstanding bonds from the Brazilian conglomerate's construction business, Odebrecht Engenharia e Construção (OEC), LatinFinance has heard. Odebrecht did not include OEC when it requested bankruptcy protection earlier this month, but the company's creditors, which include some of the largest investment banks in New York, will likely have a harder time collecting the money than before, bankers said.

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