Braskem Creditors Shun Debt Plan, Push Owners to Inject Cash

Braskem SA's bondholders rejected a restructuring proposal from the petrochemical company, according to reporting by multiple outlets. The rejection increases pressure on Petrobras, Braskem's owner, to provide additional capital to the business. Bondholders have not publicly disclosed the specific terms they are rejecting or alternative proposals they would accept. Braskem is a subsidiary of Brazil's state-owned oil company Petrobras.

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