BRASILIA -- A majority of creditors have agreed to reconsider options on how to restructure Brazil's medium-term and long-term commercial bank debt, Citibank said.

The government of Brazil and Citibank, as closing agent, said they received enough responses to Brazil's request for a "rebalancing of options" to determine that the request had been met. The six options are part of Brazil's 1992 financing plan.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.