Brazil’s InterCement Files for Protection From Creditors (1)

Brazilian cement maker InterCement Participacoes SA filed for protection from creditors just days before a dollar-bond payment was due.

The company is seeking to enter a mediation process with some creditors and presented an urgent request for precautionary protection in a Sao Paulo court, according to a statement Monday. The request seeks to shield the company from creditors for up to 60 days, according to the firm.

InterCement struggles with a heavy debt burden and has $750 million in bonds maturing on Wednesday. Local creditors, which own the majority of the debt, have been extending a standstill agreement with the ...