Cosan Targets Pre-Export Facility

Cosan Targets Pre-Export Facility

Loans

Cosan is looking to raise an up to $250m pre-export facility in the loan market. The syndicated loan carries a 3-year tenor and a margin of Libor plus 400bp, say bankers on it. Cosan had announced plans to raise a facility in June, and in August suggested it would seek to raise $350m to help pay down maturing short-term debt. Proceeds from the loan are also earmarked for working capital. The deal is joint-led by Calyon, Standard Bank and BES, and is targeting close in the first week of November.

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