August 27, 2019 / 12:01 AM / 23 days ago

Brazil's Odebrecht proposes to creditors to swap debt for equity instruments- statement

SAO PAULO, Aug 26 (Reuters) - Brazilian conglomerate Odebrecht SA, which has been in bankruptcy protection since June, has proposed to creditors a swap of their debt for instruments similar to equity, according to a statement on Monday.

The instruments would give creditors the rights to receive proceeds of the asset sales and future profits of the companies controlled by the conglomerate. (Reporting by Tatiana Bautzer Editing by Sonya Hepinstall)

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