Raizen Defines Infrastructure Debentures

Raizen Defines Infrastructure Debentures

Brazil Bonds

Brazil’s Raizen is planning to raise BRL1bn ($460m) in the domestic bond market, including bonds eligible for preferential tax treatment under the country’s infrastructure debenture laws. The sugar and ethanol joint venture between Shell and Cosan plans a 2018 bond paying the DI plus up to 0.68%, according to regulatory documents. A second 2020 inflation-linked tranche pays up to 4.747% or the yield of the NTN-B bond at the time of pricing plus up to 100bp, whichever is greater. The pricing ceil

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