Samarco, creditors fail to reach deal on debt restructuring

Brazilian iron ore pellet producer Samarco and its creditors have not reached a debt restructuring agreement by the end of a scheduled deadline, according to documents disclosed by the company on Tuesday January 29.

Samarco - a 50:50 joint venture between Vale SA and BHP - has been trying to restructure its debt since it was forced to halt operations at its Germano site in the southeastern Brazilian state of Minas Gerais, following the collapse of the Fundão tailings dam in 2015. The company has been trying to renegotiate $3.80 billion in bonds, but no deal was reached by...

Published

Felipe Peroni

January 30, 2019

02:37 GMT

São Paulo