Unigel Is Said to Pitch Last-Minute Deal to Avoid Bankruptcy

Fertilizer maker Unigel Participacoes SA is pitching a last-minute deal to avoid filing for bankruptcy protection as a temporary order shielding it from creditors expires, people familiar with the matter said.

The company is trying to sell bondholders led by Pacific Investment Management Co. on a plan that would include an injection of $100 million in new money, and allow it to restructure debt out of court, said the people, asking not to be identified because the discussions are private. Unigel needs the buy-in of about a third of its bondholders to kick off the restructuring, according to the people, ...