Brazil · Corporate Distress
Key Facts
—The filing: the Andrade Gutierrez restructuring is an out-of-court filing made by the Brazilian engineering and construction group at a Belo Horizonte business court on Wednesday, May 20.
—The debt: reporting on the filing puts the total liabilities across six group companies at about R$11.6 billion (roughly $2.1 billion), with the largest single tranche of R$3.4 billion ($613 million) at its main engineering arm.
—Second time around: it is the company’s second out-of-court restructuring in three and a half years, after a 2022 deal that renegotiated about R$2.38 billion in international bonds.
