LATAM Corporates Daily: Your daily dose of all things LatAm

Research evidence excerpt

LATAM Corporates Daily: Your daily dose of all things LatAm

J P M O R G A N Latin America Credit Research

22 June 2026

LATAM Corporates Daily

Your daily dose of all things LatAm

Highlights Latin America Corporate Research

Natalia Corfield AC

• Braskem: Discussions have stalled (1-212) 834-9150

natalia.corfield@jpmorgan.com

• Colombia: Right-wing candidate De la Espriella wins presidential runoff J.P. Morgan Securities LLC

• United States: Iran MOU and Fed meeting Alejandra Andrade

(1-212) 834-3220

• Latin America Corporate Coverage Report: June 2026 alejandra.andrade@jpmorgan.com

• Performance J.P. Morgan Securities LLC

Ian B Snyder

Prices in this note are as of June 18, 2026. (1-212) 834-3798

ian.b.snyder@jpmchase.com

J.P. Morgan Securities LLC

Florencia Palacios

Braskem: Discussions have stalled

(1-212) 622-1129

Braskem's debt restructuring process has grown increasingly complicated, with no florencia.x.palacios@jpmorgan.com

agreement yet reached between the company and its creditors. Petrobras board J.P. Morgan Securities LLC

member William França has taken an optimistic operational stance—pointing to Bhavya Gupta

a plant efficiency ramp to 85% by year-end and a petrochemical market recovery (91-22) 6157-3132

forecast beginning in 2028—which sits at odds with IG4 presenting what creditors bhavya.x.gupta@jpmchase.com

have viewed as an underwhelming proposal featuring a five-year maturity J.P. Morgan India Private Limited

extension, a two-year PIK feature, and a 200bps coupon reduction but no principal

reduction. Notably, the prospects of a US-Iran peace deal temper some of the

enthusiasm around the sector, though there remains meaningful uncertainty around

the pace of normalization and what the industry will look like once the conflict fully

resolves.