Financially-troubled Unigel is trying to raise $150 million from a group of bondholders led by American manager Pimco, according to Brazil’s Valor Economico, without revealing how it obtained the information.
The company is seeking to raise funds in the midst of a renegotiation of debt of $530 million in foreign bonds that mature in 2026. Unigel reportedly failed to pay some $23.2 million related to the interest on the bond coupon in October.