The US$30 million payment that Odebrecht owes to the Dominican Republic and that is to be paid in July 2018 is, at this time, a “maybe” after the huge construction company announced that it would not meet a US$144 million payment on outstanding overseas debts on time (which was Wednesday, 25 April 2018).
Although the Dominican Republic is not included in this particular debt payment, it is fairly certain that the Brazilian company might have problems paying the US$30 million, a part of the US $184 million, on 30 July of this year. The company announced in a press communiqué that it was seeking additional financing to meet its obligations and that the Odebrecht group continues to carry out its projects and that its negotiations are coming along fine. The company said that these new round of negotiations will “ensure additional support for their continued sustainable growth and permit the company to honor their obligations.” The company said it would make the payment, but not within the previously agreed upon timeframe. They said that the US $144 million represents that only short-term debt and is only 5% of all the debt bonds issued by the company. In the Dominican Republic, Odebrecht is the lead company building the Punta Catalina generating station.
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El Nacional
26 April 2018
