Brazil's Karsten may have missed bond payments -paper

Banco Bradesco

19/05/2016 15:04

BRASILIA, May 19 (Reuters) - Brazilian textile company 
Karsten SA  CTKA4.SA  might have failed to pay 237 million reais 
($66.04 million) due in debt and interest, and creditors are 
seeking to seize assets in lieu of payment, newspaper O Estado 
de S. Paulo reported on Thursday.  
    The borrowings, made in the form of debentures maturing in 
2017, were fully subscribed by lenders Banco do Brasil SA 
 BBAS3.SA , Banco Bradesco SA  BBDC4.SA , HSBC Holdings PLC 
 HSBA.L , Itaú Unibanco Holding SA  ITUB4.SA , Banco Santander 
Brasil SA  SANB11.SA  and Banco Votorantim SA  VOTORT.UL , the 
paper said, without saying how it obtained the information.  
    No one was immediately available to comment on the story by 
phone at the company's headquarters in the southern city of 
Blumenau. 
   Estado said Karsten ruled out seeking bankruptcy protection. 
The company also told Estado that it was in negotiations with 
the banks and that it had enough assets to pay its debts. 
    The banks declined immediate comment on the report. 
    ($1 = 3.5887 Brazilian reais) 
     
 
 (Reporting by Silvio Cascione Editing by W Simon) 
 ((silvio.cascione@thomsonreuters.com; +55 61 3426 7015; Reuters 
Messaging: silvio.cascione.thomsonreuters.com@reuters.net)) 
 
Keywords: KARSTEN DEBT/