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Brazilan retailer Americanas proposes to creditors a discount of up to 80% for debt to fall to US$930 million

The first version of Americanas' restructuring plan, presented to the courts on Monday (20), proposes to pay creditors in March 2043 only 20% of the value of the debt, i.e., a discount of 80%, if they have lawsuits against the company.

The retailer expects a reduction of its debt from almost R$43 billion (US$8.2 billion) to R$4.9 billion (US$930 million).

The creditors must vote on and approve the proposal in an assembly yet to be defined.

"General payment method: the remaining balances will be reduced by 80% and paid in only one installment . . .

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