Odebrecht Engenharia Files Recovery Plan: Valor

Odebrecht Engenharia e Construcao filed on Sept. 9 a judicial recovery plan which provides for the creation of a new engineering company, Valor reports citing OEC’s financial director Lucas Cive.

• New company may attract a new partner
• Plan, which will need to be approved at creditors meeting, defines that the group’s debts will be paid through a new financing, to be signed within the scope of the restructuring
• It also provides for a significant reduction in credits for bonds settlement
  • Company doesn’t consider the amount of $4b, but rather the market value of the bonds — which one month before ...