Oncoclinicas, a Brazilian medical provider, has announced a new agreement with a portion of its creditors to undertake an out‑of‑court restructuring of 5.1 billion reais ($993 million) of debt. The filing, released early on Tuesday, shows foreign creditors who hold 37% of the company’s debt have agreed to the so‑called extra‑judicial restructuring, a move that surpasses the one‑third legal threshold required to trigger formal proceedings.

This agreement comes amid a growing wave of Brazilian firms seeking debt overhauls in the face of double‑digit interest rates that have tightened financial conditions across the sector. The restructuring will allow Oncoclinicas to renegotiate payment terms, potentially extending maturities and reducing interest costs, while also preserving the company’s operational continuity.

The decision follows a series of similar moves by other domestic companies, reflecting a broader trend of debt‑heavy entities opting for negotiated settlements rather than court‑mandated restructurings. The company’s leadership has emphasized that the new arrangement will safeguard patient care and support long‑term growth.

Stakeholders have welcomed the move, noting it could improve liquidity and reduce default risk.