Braskem (NYSE: BAK) outlines Braskem Idesa debt talks and 2033 projections
Rhea-AI Filing Summary
Braskem S.A. filed an update explaining that its subsidiary Braskem Idesa has been in discussions with certain holders and investment managers of its outstanding 7.450% Senior Secured Notes due 2029 and 6.990% Senior Secured Notes due 2032 about a possible reorganization of Braskem Idesa’s capital structure. Under confidentiality agreements signed on December 18, 2025, Braskem Idesa shared non-public information with these investors and is now releasing all material shared information on its and Braskem’s websites.
The filing states that Braskem Idesa and the investors exchanged proposals for the potential restructuring, but Braskem Idesa did not agree to the investors’ proposal and no agreement or transaction has been reached to date. Materials made available include projections through 2033 for prices, supply, costs, production, ethane and polyethylene use, and financial indicators, which are described as hypothetical, subject to significant risks and uncertainties, and explicitly not to be taken as guidance.
Positive
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Negative
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Insights
Braskem Idesa is exploring, but has not agreed to, a debt restructuring with noteholders.
Braskem Idesa is in talks with holders of its
Both sides have exchanged restructuring proposals, but the disclosure makes clear that Braskem Idesa did not accept the investors’ proposal and that no agreement or other transaction exists so far. This means there is currently no confirmed change to its debt terms or balance sheet, only ongoing discussions.
The posted materials include long-dated projections to
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT
TO RULE 13A-16
OR 15D-16 OF THE SECURITIES EXCHANGE ACT OF 1934
For the month of January, 2026
(Commission File No. 1-14862 )
BRASKEM S.A.
(Exact Name as Specified in its Charter)
N/A
(Translation of registrant's name into English)
Rua Eteno, 1561, Polo Petroquimico de Camacari
Camacari, Bahia - CEP 42810-000 Brazil
(Address of principal executive offices)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F ______
Indicate by check mark if the registrant is
submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(1). _____
Indicate by check mark if the registrant is
submitting the Form 6-K
in paper as permitted by Regulation S-T Rule 101(b)(7). _____
Indicate by check mark whether the
registrant by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant
to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes ______ No ___X___
If "Yes" is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): 82- _____.
BRASKEM S.A.
Corporate Taxpayer ID (CNPJ): 42.150.391/0001-70
Company Registry: 29.300.006.939
Publicly Held Company
MATERIAL FACT
Braskem S.A. ("Braskem" or "Company") (Ticker B3: BRKM3, BRKM5 and BRKM6; NYSE: BAK; LATIBEX: XBRK) in continuity with the Notices to the Market of September 8, 2025 and November 19, 2025, hereby informs its shareholders and the market in general that Braskem Idesa S.A.P.I. ( together with its subsidiaries and affiliates, “Braskem Idesa”) has provided certain holders and investment managers of one or more of Braskem Idesa's outstanding 7.450% Senior Secured Notes due 2029 and 6.990% Senior Secured Notes due 2032 (“Investors”) with certain non-public information relating to Braskem Idesa, in the context of a possible reorganization of its capital structure (“Restructuring”).
Under the terms of the confidentiality agreements entered into on December 18, 2025, between Braskem Idesa and the Investors (collectively, the “Confidentiality Agreements”), Braskem Idesa agreed to publicly disclose all material information provided to the Investors (“Shared Information”) after the termination of the period established in the Confidentiality Agreements. The Shared Information is publicly available on the Braskem Idesa and Braskem websites at the link “https://api.mziq.com/mzfilemanager/v2/d/540b55c5-af99-45f7-a772-92665eb948e9/a8f7a40c-ca07-0290-3d19-a36bae3f8a79?origin=2”, and is provided to fulfill Braskem Idesa's obligations under the Confidentiality Agreements and in compliance with applicable legal rules.
Since the execution of the Confidentiality Agreements, Braskem Idesa and the Investors, through their respective advisors, have prepared and exchanged the following information:
| 1. | Discussion materials from Braskem Idesa and proposed terms for a possible restructuring (“Braskem Idesa Proposal”); and |
| 2. | Terms proposed by Investors for a possible Restructuring, dated January 6, 2026 (“Investor Proposal” and together with the Braskem Idesa Proposal, the “Proposals”). |
During this period, representatives and advisors from Braskem Idesa and the Investors participated in discussions and correspondence regarding the Proposals, including an in-person meeting held on December 18, 2025 among representatives and advisors from Braskem Idesa and the Investors, with no agreement reached between the parties regarding Braskem Idesa's Proposal. Subsequently, after receiving the Investors' Proposal, Braskem Idesa indicated that it would not agree to the terms proposed in said proposal.
| 1 |
The information contained in the Braskem Idesa Proposal is accurate as of the delivery date, has not been updated since the delivery date, and should not be used for any other purpose.
A copy of the terms of the Proposals is attached to this Material Fact. No agreement regarding any of the Proposals or any other transaction has been reached to date.
The Braskem Idesa materials contain projections regarding prices, supply, costs, production, and use of polyethylene and ethane, as well as Braskem Idesa's financial indicators, up to 2033. The projections presented are hypothetical data and forecasts that reflect the current expectations of Braskem Idesa's management and should not be interpreted as guarantees or promises of performance, being subject to risks and uncertainties associated with the economic, regulatory, and competitive conditions of the markets in which Braskem Idesa operates, and may therefore differ materially from the figures and results actually recorded by Braskem Idesa. The Company clarifies that the projections contained in the materials and the Braskem Idesa Proposal should not be considered as guidance and were prepared in the context of negotiations with Investors.
Braskem will keep the market informed of any material developments on this matter, in compliance with applicable laws.
Additional information can be obtained from the Investor Relations Department by calling +55 11 3576 9531 or by e-mail braskem-ri@braskem.com.br.
São Paulo, January 12, 2026.
Felipe Montoro Jens
Chief Financial and Investor Relations Officer
Braskem S.A
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Date: January 12, 2026
| BRASKEM S.A. | |||
| By: | /s/ Felipe Montoro Jens | ||
| Name: | Felipe Montoro Jens | ||
| Title: | Chief Financial Officer | ||
FORWARD-LOOKING STATEMENTS
This Material Fact may contain forward-looking statements. These statements are not historical facts, but rather are based on the current view and estimates of the Company's management regarding future economic and other circumstances, industry conditions, financial performance and results, including any potential or projected impact regarding the geological event in Alagoas and related legal procedures on the Company's business, financial condition and operating results. The words “project,” “believe,” “estimate,” “expect,” “plan”, “objective” and other similar expressions, when referring to the Company, are used to identify forward-looking statements. Statements related to the possible outcome of legal and administrative proceedings, implementation of operational and financing strategies and investment plans, guidance on future operations, the objective of expanding its efforts to achieve the sustainable macro objectives disclosed by the Company, as well as factors or trends that affect the financial condition, liquidity or operating results of the Company are examples of forward-looking statements. Such statements reflect the current views of the Company's management and are subject to various risks and uncertainties, many of which are beyond the Company’s control. There is no guarantee that the events, trends or expected results will actually occur. The statements are based on various assumptions and factors, including, but not limited to, general economic and market conditions, industry conditions and operating factors, availability, development and financial access to new technologies. Any change in these assumptions or factors, including the projected impact from the joint venture and its development of technologies, from the geological event in Alagoas and related legal procedures and the unprecedented impact on businesses, employees, service providers, shareholders, investors and other stakeholders of the Company could cause effective results to differ significantly from current expectations. For a comprehensive description of the risks and other factors that could impact any forward-looking statements in this document, especially the factors discussed in the sections, see the reports filed with the Brazilian Securities and Exchange Commission (CVM). This Material Fact does not constitute any offer of securities for sale in Brazil. No securities may be offered or sold in Brazil without being registered or exempted from registration, and any public offer of securities carried out in Brazil must be made through a prospectus, which would be made available by Braskem and contain detailed information on Braskem and its management, as well as its financial statements.
FAQ
What did Braskem S.A. (BAK) disclose about Braskem Idesa in this 6-K?
Braskem disclosed that Braskem Idesa shared non-public information with certain holders and investment managers of its 7.450% Senior Secured Notes due 2029 and 6.990% Senior Secured Notes due 2032 as part of discussions about a possible capital structure reorganization, and is now publicly releasing that material.
Has Braskem Idesa reached any restructuring agreement with its noteholders?
No. The disclosure states that after exchanging proposals and holding meetings, including one on December 18, 2025, Braskem Idesa did not agree to the investors’ proposal and that no agreement regarding any proposals or other transaction has been reached to date.
What types of projections are included in the Braskem Idesa materials shared by Braskem (BAK)?
The materials contain projections through 2033 covering prices, supply, costs, production, and use of polyethylene and ethane, as well as financial indicators for Braskem Idesa.
Are the Braskem Idesa projections considered guidance for Braskem S.A. (BAK)?
No. The company clarifies that the projections in the materials and in the Braskem Idesa proposal are hypothetical data and forecasts, reflect current expectations, and should not be considered as guidance, as they were prepared specifically for negotiations with investors.
Where can investors access the Braskem Idesa shared information mentioned by Braskem (BAK)?
The shared information is publicly available on the Braskem Idesa and Braskem websites via the link provided in the disclosure, and it is being released to comply with the confidentiality agreements and applicable legal rules.
How can investors contact Braskem’s Investor Relations about this Braskem Idesa update?
Investors can contact the Investor Relations Department by phone at +55 11 3576 9531 or by e-mail at braskem-ri@braskem.com.br for additional information.
