TPI Triunfo Participações & Investimentos SA and a pool of about 20 banks have agreed on terms to restructure 2.113 billion real ($672.6 million) of debt, 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.
“Lenders were always satisfied with the company`s willingness to discuss how to honor its debt, facilitating an accord that will be beneficial to all parties involved,” said an executive at one of Triunfo`s…
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