Braskem: Group seeks to restructure US$10.9 billion in financial liabilities

Braskem has initiated an out-of-court restructuring process. On August 24, 2026, the Board of Directors approved the corresponding filing for the company and several subsidiaries. The financial restructuring covers approximately US$10.9 billion in unsecured liabilities.

The proceedings under Brazilian Law 11.101/05 are intended to provide a legally protected framework for negotiations with financial creditors. Braskem emphasizes that the restructuring applies exclusively to financial liabilities. Obligations to suppliers, customers and other business partners are not part of the proceedings and are expected to continue to be fulfilled in accordance with existing contracts.

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Also on August 24, Braskem filed the petition with the competent bankruptcy and restructuring court in São Paulo. At that time, unsecured creditors representing 39.6 percent of the affected claims supported the proposed plan. Under Brazilian law, the company has 90 days to secure the majority required for approval. The updated plan could include, among other measures, a partial conversion of debt into equity.

The restructuring comes despite a recent improvement in earnings and against the backdrop of high debt levels. As of June 30, 2026, Braskem’s gross financial debt stood at US$10.4 billion, while adjusted net debt amounted to approximately US$9.5 billion. The net debt-to-EBITDA ratio was 6.74. In the second quarter of 2026, the group reported EBITDA of US$1.043 billion and net income of US$664 million.

More information: www.braskem.com

Braskem, São Paulo, Brasilien