August 28, 2019 |
Brazil's Odebrecht said it has offered to pay off creditors with securities based on the company's future results.
As part of a court-ordered restructuring plan, Odebrecht has asked creditors to accept "payment securities" backed by cash flow and one-off gains from asset sales.
"Therefore, the better the results and cash flow, the higher the funds transferred to creditors," Odebrecht said in a statement.
Odebrecht added that it will negotiate a settlement with creditors over several months befor
Brazilian conglomerate offers to reimburse creditors with securities based on cash flow and one-off gains from asset sales