Braskem Creditors Seek Petrobras Capital as Deal Deadline Looms

AI Summary

Creditors of Braskem are pressing Petrobras for capital injection as the deadline for a deal approaches, aiming to prevent bankruptcy of the petrochemical firm. The situation is critical amid an election year, raising stakes for the state-controlled oil giant.

Braskem’s bondholders continue to press state-controlled oil giant Petrobras to inject fresh capital into the struggling petrochemical producer as time runs short to avoid filing for bankruptcy protection in an election year, according to people familiar with the matter.