Home Odebrecht resolves its debts and invests in building growth

Odebrecht resolves its debts and invests in building growth

27 May 2018 to 08: 50
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Odebrecht works banks

With a loan of 2,6 billion that Odebrecht got from 4 banks, the company claims promising projects

Odebrecht SA, the holding company of the Odebrecht Group, reached a financial agreement with five Brazilian banks that provides BRL 2,6 billion in new resources and at the same time extends, with lower interest rates, debts that would mature in the short term. Odebrecht will allocate an important part of the new funding to invest in its construction company, Odebrecht Engenharia e Construção (OEC), one of the flagships of the Group's revenue and the main reference of excellence in Brazilian engineering.

The OEC will receive funds to pay immediately, within a period of 30 days after maturity, the amounts due on international bonds. The R$2,6 billion will be divided equally between Itaú and Bradesco, and released in two stages: one, immediately, in the amount of R$1,7 billion; the other in the amount of R$ 900 million. The agreement also involved Banco do Brasil, Santander and BNDES, as it was backed by the appreciation of Braskem shares used as collateral for previous loans with these institutions.

The conclusion of negotiations with the banks also gives Odebrecht more security to honor its financial commitments, including those arising from the agreements signed with the authorities under its Leniency Agreement, and continue on its trajectory of transformation and growth.

“In addition to being yet another demonstration of confidence in the financial system, the agreement we have just signed is the greatest proof of the shareholders' confidence in the ability of our members and in the technical qualifications of the Group's companies to deliver quality products and services, especially from Odebrecht Engenharia e Construção” – said Luciano Guidolin, CEO of Odebrecht SA

Vacancies and Works at Odebrecht

Odebrecht currently has some opportunities for its INTERNSHIP PROGRAM 2018 with around 30 open positions. In the works branch, she won two this year: The construction of the BRT in Belém, which was budgeted at 525 million reais and the work on the Port Center of São Mateus in Espirito Santo, with two thousand and five hundred vacancies confirmed.

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