Braskem Bonds Extend Slide After Company Hires Advisers

Braskem SA dollar bonds slumped on Monday, extending Friday’s drop, after the company hired advisers to review its capital structure and bondholders rushed to organize.

• Dollar notes due in 2030 fell 8.37 cents to trade at 37.25 cents on the dollar — a record low — as of 9:14 am in New York, according to Trace data
• NOTE: Braskem’s debt tumbled on Friday after the company said it hired financial and legal advisers to find ways to bolster its finances
  • READ: Braskem Debt Tumbles After Advisers Hired to Boost Finances (2)
• NOTE: Creditors are rushing to form a group and ...