GPA Creditors Tap Moelis as Adviser Amid Debt Restructuring (2)

Local bondholders of GPA hired Moelis & Co as a financial adviser following the Brazilian supermarket chain’s decision to restructure its debt in an out-of-court proceeding, according to people familiar with the matter.

Cia. Brasileira de Distribuição, as the company is formally known, announced an agreement to restructure about 4.5 billion reais ($860 million) in debt earlier this month. Creditors representing 46% of the affected claims — or 2.1 billion reais — agreed to the restructuring, it said at the time. GPA does not have global bonds.

Local bondholders also hired Lefosse Advogados as legal adviser, the people said. ...