Americanas Deal With Banks Inches Closer on Sweetened Offer

An agreement between embattled Brazilian retailer Americanas SA and its bank creditors is close now that the firm’s billionaire shareholders presented a new proposal to inject up to 12 billion reais ($2.4 billion) into the company, said people familiar with the matter.

While the short-term amount that Jorge Paulo Lemann, Marcel Telles and Carlos Sicupira would pour into the company remains unchanged at 10 billion reais, they would consider an additional 2 billion reais in two separate installments at a future date if leverage metrics are above a certain level or liquidity falls below an unspecified gauge, the firm ...