Cosan Adds BRL on Strong Bid

Mar 7, 2013

With investors crowding in for $9bn in orders Wednesday, Cosan has added a 2018 global-BRL tranche to accompany its 2023 NC5 USD bond, with pricing for both expected today, according to people following the transaction. The Ba2/BB/BB+ Brazilian energy and infrastructure company has issued guidance of 5.50%-area for the USD tranche, in from mid-to-high 5% talk. Guidance for the...

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“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management