August 30, 2019 / 10:29 PM / 16 days ago

Odebrecht's construction unit and bondholders agree to 55% discount -report

SAO PAULO, Aug 30 (Reuters) - Odebrecht’s construction unit OEC has signed an agreement with bondholders to restructure its debt with a 55% discount, Brazilian newspaper Valor Economico reported on Friday.

The $3.2 billion debt issued by Odebrecht Finance and guaranteed by the construction unit will be reduced to $1.4 billion, according to the report. Odebrecht confirmed in an e-mail that an agreement was signed by the construction unit with its creditors, but did not elaborate on its terms. (Reporting by Tatiana Bautzer Editing by Tom Brown)

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