Cosan Adds BRL on Strong Bid

Cosan Adds BRL on Strong Bid

Brazil Bonds

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 real-denominated tranche is 9.75%-area. The total size remains to be decided, but the markets had been expecting at leas

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