Rodovias do Tietê recovery plan approved, restructuring debt of BRL 1.8 billion in debentures
The judicial reorganization plan of the concessionaire Rodovias do Tietê, which provides for the restructuring of the debentures issued by the concessionaire, has been approved and ratified in court. The plan provides that holders of the debentures, totaling more than BRL 1.8 billion, will have the option of choosing to receive shares in an equity investment fund, which will hold all of the shares of the concessionaire, as sole shareholder, after the necessary approvals. Those who do not wish to receive shares in the fund may choose to receive new debentures, remunerated with the company’s results. The debenture holders were represented by Felsberg Advogados, as legal advisor, and Starboard Restructuring Partners, as financial advisor.
The judicial approval of the reorganization plan took place on 30 September 2021 and the implementation of the measures provided for in the plan is now pending authorization from ARTESP. Check out the full article, in Portuguese, at: https://bit.ly/3uwVGfm
