Ambipar is close to reaching an agreement with holders of its international bonds that would secure approval of a new reorganization plan, Valor’s business news website Pipeline has learned. The company has chosen to prioritize negotiations with those investors—who hold $1.045 billion (R$5.4 billion at the time the court-supervised reorganization was filed) of Ambipar’s total R$10.5 billion debt—over discussions with domestic creditors.
The move would effectively secure support from creditors representing about 58% of total claims, above the simple majority required to approve a restructuring plan at the creditors’ meeting. There is also the possibility that some bondholders could vote separately, helping ensure approval…