2023-12-02 00:30:18
© Reuters.
By Marta Nogueira
SÃO PAULO (Reuters) – Samarco Mineração announced this Friday the completion of the restructuring of part of its financial debt as part of the company’s judicial recovery process, through the issuance of 3.98 billion dollars in new bonds with maturity in 2031.
On the date of issuance, Samarco completed “significant” obligations under the Consensual Plan and the Support Agreement, including the extension and reduction of the company’s debt with international financial creditors, from the approximate amount of 4.8 billion dollars to approximately of 3.7 billion dollars, through the cancellation and replacement of bonds with closer maturities.
The company’s restructuring also includes the injection of new resources into Samarco by its shareholders, Vale (BVMF:) and BHP, “who supported the Consensual Plan, intended to support the company in fulfilling its obligations”, Samarco said in a note .
“Samarco is confident that these transactions will strengthen its capital structure and support the viability of its business plan,” he said.
Samarco added that it remains focused on the gradual and safe resumption of operations, with the expectation of reaching 60% of production capacity by 2025 and 100% by 2028, as foreseen in its business plan.
(Text by Roberto Samora; editing by Patrícia Vilas Boas)
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