Who signed the ‘ill-fated addendum’ of Ambipar with Deustche

The argument put forward by Ambipar is that the requirement of an additional guarantee by Deutsche Bank on the $550 million debt would imply a disbursement of R$ 60 million last Thursday. Santander bank had already requested advance payments and other advances could impact R$ 10 billion in the company’s debts – hence the injunction would be “essential for its survival”. The so-called ‘ill-fated addendum’, as described in the company’s petition, was signed on August 18, including clauses of the ‘debt substitution’ of bonds, definitions of ‘default events’, ‘termination events’ and also includes the ‘cross-default’ clause. The goal would be to protect the company from the exchange rate variation on the loan amount. The difference between the dollar exchange rate at the time of contracting the line and the current rate generated margin calls, that is, the requirement of additional deposit guarantees by the lender. On the Ambipar side, the only signatures listed are those of Luciana Nascimento and Thiago Silva.