Consumer
Brazilian Cement Maker InterCement Files for Creditor Protection
- Cement maker seeking creditor protection and mediation process
- InterCement has about $750 million in bonds maturing Wednesday
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Brazilian cement maker InterCement Participacoes SA filed for protection from creditors just days before a dollar-bond payment was due.
The company is seeking to enter a mediation process with some creditors and presented an urgent request for precautionary protection in a Sao Paulo court, according to a statement Monday. The request seeks to shield the company from creditors for up to 60 days, according to the firm.