Raizen Tightens Debentures

Raizen Tightens Debentures

Brazil's Raizen has finalized pricing for a BRL750m ($340m) debenture transaction, getting rates inside of the price ceilings for each of three tranches, according to regulatory documents. The sugar and ethanol joint venture between Shell and Cosan priced a BRL106m 2018 bond at DI+0.89%, inside a 0.95% ceiling, amortizing annually beginning 2017. A BRL340m 2018 bullet tranche pays DI+0.94%, under a 1.00% limit. A BRL304m 2020 inflation-linked tranche pays 6.38%, begins annual amortizations in 20

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