Aeris requests extrajudicial recovery and tries to restructure debt with creditors
Manufacturer of blades for wind turbines filed an application in São Paulo with a plan negotiated with creditors, which account for 42.18% of the credits covered so far.
BY THE X-TRADER NEWS NEWSROOM · REPORTING FROM INFOMONEY · 2 MIN
Aeris (AERI3), a manufacturer of blades for wind turbines, requested extrajudicial recovery from the São Paulo Court to restructure its debt and reduce leverage. According to InfoMoney, the petition was filed in court number 3 specializing in business failures and reorganizations in the capital of São Paulo, and the company communicated the decision to the market on Tuesday (3), after its advisors approved the measure.
According to the same publication, the proposal was made with the largest creditors and includes readjustments in payment schedules, obtaining new money and changes in the guarantees offered. So far, creditors with 42.18% of the credits covered have adhered to the proposal.
To be approved, the plan needs the support of more than half of the credits within 90 days, the so-called approval quorum. Furthermore, it still depends on shareholder ratification at a meeting, a step that still needs to happen.
The company states that supply lines continue to be maintained normally, according to InfoMoney. Continuity signaling matters to customers and suppliers while the process is ongoing.
On another front, Chilli Beans also requested extrajudicial recovery, according to Seu Dinheiro. The network wants to reorganize R$340 million that it owes to financial institutions. Among the planned measures are the injection of up to R$50 million from the creditors themselves and the review of settlement dates and terms.
The company did not detail the origin of the financial problems. Caito Maia, founder and executive president of Chilli Beans, credited the national retail environment with part of the problems faced, according to Seu Dinheiro.
What changes for the investor
In both cases, the debate moves away from growth and onto capital structure. For those who follow Aeris, the points to observe are the adhesion of creditors, the ratification of shareholders and the drop in leverage that the company seeks. At Chilli Beans, the contribution of up to R$50 million from the creditors themselves indicates that part of the rescue depends on those who already have exposure to the company. In both cases, the conditions of new resources and changed guarantees tend to weigh more heavily on the market's reading than the headline itself.
Automatically translated from Portuguese.
