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Brazilian construction group Andrade Gutierrez obtained the green light from creditors to lengthen the maturity of its outstanding overseas bonds.
Last month, the company launched an exchange tender offer for creditors to swap their overdue outstanding bonds.
The company proposed holders of US$345mn of overseas bonds, which were due in April, exchange the debt for new bonds due 2021, offering annual interest of 11%.
Holders of 97% of the bonds accepted the offer, Andrade Gutierrez told BNamericas.
Andrade Gutierrez is one of several construction companies involved in the Lava Jato corruption probe and has seen a drastic fall in revenues as a result of its tarnished image.