Brazilian mining company Samarco Mineração and owners Vale and BHP Billiton have hired banks to sound out creditors on a potential renegotiation of $3.8-billion in debt, after a deadly dam spill led to the shutdown of a key mine, a source with direct knowledge of the plan said on Monday.
According to the source, BHP Billiton has hired Rothschild & Co as an advisor on the deal, Vale has brought in Moelis & Co, and JPMorgan Chase & Co is advising Samarco. The source asked for anonymity because the process is private.
