December 3, 2008
Brazil's Cosan has completed a sale of BRL1.1bn in 1-year promissory notes
Brazil's Cosan has completed a sale of BRL1.1bn in 1-year promissory notes at DI plus 3%. Proceeds will help fund the acquisition of Esso fuel distribution and service station assets it bought in April from ExxonMobil for $1bn. Bradesco is managing the sale. The sugar and ethanol producer announced Monday the completion of the Esso asset acquisition following the payment of $715m to ExxonMobil and the assumption of debt of $175m.