Braskem (BRKM3, BRKM5 and BRKM6) filed, on Monday, August 24, 2026, a petition for out-of-court reorganization with the 2nd Bankruptcy and Judicial Reorganization Court of the Capital District of the State of São Paulo, with the aim of negotiating the restructuring of unsecured financial obligations in the approximate amount of US$ 10.9 billion, referred to as Subject Credits.
According to the company, the out-of-court reorganization plan filed has the support of unsecured creditors that, together, represent 39.6% of the Subject Credits, a sufficient percentage for filing the petition. Braskem has a period of 90 days from the filing to obtain the minimum percentage required for the approval of an updated plan which, if approved, will bind 100% of the Subject Credits to the new payment terms and conditions.
The current plan sets general parameters for negotiations between the debtors, their main shareholders and financial creditors, including amendment and extension of obligations and maturities, with possible capitalization of interest during a relief period, potential liquidity support from the main shareholders, a commitment to inject or guarantee equity capital at the end of the relief period if certain metrics are not met, and possible capitalization of part of the Subject Credits. It also sets out intermediate milestones and early termination rights in favor of the signatory creditors.
The filing of the out-of-court reorganization petition has immediate effect and suspends the enforceability of the debtors’ obligations related to the Subject Credits. According to Braskem, the out-of-court reorganization has a limited, strictly financial scope and does not cover obligations to suppliers, customers and other related parties, which remain in force and are being fulfilled under the terms of the respective contracts.
The company also reports that the plan is supported by Shine I Fundo de Investimento em Participações de Responsabilidade Limitada and Petróleo Brasileiro S.A. – Petrobras, Braskem’s main shareholders, and that it will keep the market informed of relevant developments on its investor relations website, as well as on the CVM and B3 websites.
