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Sovereign Wealth Funds Briefing - Categorized | Financials

Brazil’s EBX, Abu Dhabi fund agree on debt refinance deal

Posted on 11 July 2013

Brazil’s EBX Group successfully concluded on Wednesday a debt refinancing deal with Abu Dhabi’s sovereign wealth fund in a major step toward shoring up billionaire Eike Batista’s conglomerate, EBX said.
A source with direct knowledge of the EBX-Mubadala accord told Reuters last week that the agreement will cut EBX’s debt with the Abu Dhabi fund, Mubadala Development Co, by more than 25 percent to between $1.6 billion and $1.7 billion. The debt was valued at $2.3 billion recently, the source said………………………………………..Full Article: Source


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