Braskem Idesa Bonds Sink on Review of Company Capital Structure

Published 09 September 2025, 12:02:11

(Bloomberg) -- Braskem Idesa bonds due in 2029 sank on Tuesday after Braskem SA announced it hired advisers “with the objective of reviewing” the joint venture’s “existing capital structure and liquidity conditions,” according to a regulatory filing.

• Braskem hired Cleary Gottlieb Steen & Hamilton, and Sainz Abogados
• This decision reflects Braskem Idesa’s ongoing efforts to preserve its liquidity and improve its results in general amid the current scenario of macroeconomic uncertainties, price volatility of its commodities, higher input costs and weaker-than-expected demand”
• Braskem-Idesa 2029 bonds fell 3.5 cents to 68.8 cents on the dollar, according to Trace data

2032 notes edged higher to 64 cents on the dollar after plunging 7 cents on Monday

The bonds had been trading positively despite weak second-quarter results amid rumors that Idesa (controlled by Carlos Slim’s Inbursa), was buying the debt on the secondary market and negotiating a potential takeover of the Braskem-Idesa joint venture, Lucror Analytics’ Filipe Botelho wrote in a note Tuesday

By Maria Elena Vizcaino