Sept 4 (Reuters) - Australian mining giant BHP (BHP) on Monday said a Brazilian court had approved the judicial reorganization plan for Samarco Mineracao S.A., which allows the cash-strapped Brazilian miner to restructure its debts with its creditors.
The reorganisation plan for Samarco, which is 50% owned by BHP, contains the terms for the Brazilian miner's existing financial debt to be exchanged for up to $3.7 billion of long-term unsecured debt, the Australian company said in a statement.
News: BHP BHP says Brazilian court approves Samarco's debt reorganisation plan
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