June 10, 2020 |
Brazilian ethanol producer Raízen, a joint venture between Shell and Cosan, has outlined plans to issue BRL1.25 billion ($255 million) worth of debentures in the local market, using most of the proceeds to back a deal for agricultural receivables certificates, or CRAs.
Raízen will divide the debt sale into two parts with BRL170 million in 2028 notes and BRL1.08 billion in 2030 notes, it said in a securities filing on Monday. It expects to price the 2028s at the IPCA consumer price index plus 2.0
Brazilian ethanol producer will issue $220 mln in debentures to fund a CRA deal