SAO PAULO, May 21 (Reuters) - Brazilian engineering conglomerate Odebrecht SA is making progress in talks with leading bank creditors about a potential loan package days before the due date to repay $144 million its construction unit owes to bondholders, three sources with knowledge of the matter told Reuters.
An agreement may be reached as soon as this Tuesday, the sources added, asking for anonymity because the negotiations are private.
Brazil’s two top lenders, Itaú Unibanco Holding SA and Banco Bradesco SA, are discussing a joint 2.6 billion reais ($710.7 million) loan.
State-controlled Banco do Brasil SA has agreed to the outlines of the loan and how the collateral would be divided among the banks, but Bradesco and Itaú still need to agree on the terms, two of the sources added.
Banco do Brasil, Bradesco and Itaú declined to comment. Odebrecht said it is still in negotiations with banks.