Exclusive: Brazil's Triunfo clinches $673 mln restructuring with banks
TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms of a 2.113 billion real ($672.6 million) debt restructuring, giving the Brazilian infrastructure firm a lifeline to finalize projects and downsize gradually.
The process will take place as an out-of-court workout, in which companies seek a limit on the influence of some creditors in the upcoming rounds of their restructuring, said Andre Bucione, managing director at Alvarez & Marsal Holdings LLC, which advised Triunfo on the process. Such a workout is known in Brazil as "recuperação extrajudicial."
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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