by Amruth Sundarkumar | Aug 20, 2021 | High Yield Bonds
Vale SA and BHP Group Ltd face pressure to payoff their Samarco joint venture’s BRL 50.7bn ($9.5bn) debt, as Brazilian prosecutors requested a bankruptcy court to compel repayment. Samarco struggled to restructure its debt, after a dam burst in a mine in 2015,...
by bondevalue | Apr 12, 2021 | High Yield Bonds
Samarco Mineracao SA, Vale SA and BHP Group Ltd’s joint venture, filed for bankruptcy protection in a bid to prevent creditors’ claims to impact operations. Samarco faces litigation from bondholders holding almost $5bn in debt, after a dam at the Samarco mine complex...
by bondevalue | Mar 30, 2021 | High Yield Bonds
The legal disputes between Brazil’s Vale and Beny Steinmetz over a failed iron ore joint venture in Guinea has taken a new dimension as Steinmetz claims that Vale concealed from its shareholders the risks involved in the Simandou development deal. As part of the...
