Braskem Debt Tumbles After Advisers Hired to Boost Finances (2)

Braskem SA’s dollar notes slumped on Friday after the company said it hired financial and legal advisers to find ways to improve its capital structure, as it grapples with the effects of a downturn in the petrochemicals sector and fallout from a years-long environmental disaster.

Notes due in 2031 slumped as much as 16 cents to trade as low as 42 cents on the dollar, according to Trace data. The yield on the notes stood at about 28% as of 1:05pm in Sao Paulo, data compiled by Bloomberg shows. Meanwhile, shares fell as much as 14%.

The company has ...