- Reuters•6 days ago
Brazilian homebuilder PDG Realty SA said it was seeking protection from creditors by filing on Wednesday to restructure its debt in court, the country's second publicly listed builder to do so in less than six months. PDG's gross debt was 5.4 billion reais ($1.75 billion) at the end of September, according to a quarterly earnings report. The company said its efforts to restructure about 74 percent of its bank debt last year "did not achieve the originally desired effect." PDG said it continues to struggle with weak demand, growing sales cancellations, stalled construction projects and lawsuits from clients and contractors.
- Barrons.com•6 days ago
Brazil real estate play PDG Realty (PDGRY) is off by 12.5% today announcing it will file for bankruptcy. The iShares MSCI Brazil Capped exchange-traded fund (EWZ), down 0.3% today, is up 20% this year, nearly double the 10.8% return of the iShares MSCI Emerging Markets ETF (EEM), which is flat today. Reuters reports that weak demand, cancelled or stalled contracts, and lawsuits weighed on the company.
- Reuters•11 days ago
PDG Realty SA, the Brazilian homebuilder struggling with a cash crunch, is considering surrendering buildings and land given as collateral to creditors ahead of a potential in-court reorganization, two people directly involved in the plan said. São Paulo-based PDG hired restructuring advisory firm RK Partners in November to come up with a rescue plan. Terms of the plan contemplate giving creditors control of some assets guaranteeing debt issued by about 700 special purpose vehicles created to fund projects, the people said.
PDGR3.SA : Summary for PDG REALT ON NM - Yahoo Finance
PDG Realty S.A. Empreendimentos e Participações (PDGR3.SA)
Sao Paolo - Sao Paolo Delayed Price. Currency in BRL
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|Day's Range||1.69 - 2.19|
|52 Week Range||1.18 - 8.01|
|PE Ratio (TTM)||-0.02|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|