Odebrecht looking to restructure nearly half of Atvos’ debt

In Brazil, Reuters reports local newspaper coverage that the owner of ethanol producer Atvos, Odebrecht who is going through significant restructuring forced upon it by bankruptcy procedures, as proposed to the courts that it cut 75% of the ethanol company’s unsecured debt and 35% of its secured debt for a total of 46% debt reduction. Its debt is currently $2.65 billion but will fall to $1.43 billion as a result of the proposed debt restructuring.