Brazil's Americanas meeting with creditors as it looks for debt settlement

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03-04-2023 | 09:11
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Brazil's Americanas meeting with creditors as it looks for debt settlement
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Brazil's Americanas meeting with creditors as it looks for debt settlement

Brazilian retailer Americanas (AMER3.SA) said on Monday it was holding periodic meetings with creditors as it looks for a deal to settle its debts, although no agreement has been reached yet.

Americanas, which entered bankruptcy protection after uncovering roughly $4 billion in "accounting inconsistencies" earlier this year, said in a securities filing its most recent proposal included a short-term capital increase of 10 billion reais ($1.98 billion) in cash.

It also included two potential additional capital increases of up to 1 billion reais each, added the firm, which counts the billionaire trio that founded 3G Capital as reference shareholders.

"The company remains committed to negotiating these terms with its financial creditors," Americanas said.

($1 = 5.0404 reais)

 

Brazil

Americanas

Meeting

Creditors

Debt

Settlement

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