Cosan funds Comgás deal with local notes

Cosan funds Comgás deal with local notes

Debenture Debt Capital Markets M&A Energy Gas Brazil

Brazil's Cosan has sold $1.7bn ($454m) in debentures to pay for the takeover of the local natural gas company Comgás. BTG Pactual and Citi priced the two-year notes at 106% of the DI interbank lending rate after receiving BRL5.5bn in orders, LatinFinance has heard. When Cosan announced the deal last week, it said the notes could price as high as 109% of the DI. The sugar and ethanol producer said in January that it could spend up to BRL1.93bn to buy all outstanding shares in Comgás on the B3

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