(MENAFN) There are some terms to restructure 2.113 billion real of debt, giving the Brazilian infrastructure firm a lifeline to finalize projects and downsize gradually, and these terms TPI Triunfo Participa""es & Investimentos SA and a pool of about 20 banks have agreed on that.
An executive at one of Triunfo's creditors, who requested anonymity in discussing terms of the workout said, "Lenders were always satisfied with the company's willingness to discuss how to honor its debt, facilitating an accord that will be beneficial to all parties involved."
in addition, Triunfo borrowed shaply at the beginning of the year to fuel extend in toll roads, electricity and airports, still, Brazil's worst-ever stagnation has corrode profitability at the company and about 1 billion reais of Triunfo's debt will mature by the end of next year.
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