Cosan heads to local debt market to repay debt

Cosan heads to local debt market to repay debt

Debenture Debt Corporate & Sovereign Strategy Capital Markets Brazil

Brazilian sugar and ethanol company Cosan said it plans to pay off short-term debt with the proceeds of a three-part deal for BRL2 billion ($384 million) in the local bond market next month.  São Paulo-based Cosan intends to issue BRL750 million in seven-year debentures at the DI interbank lending rate plus 1.7%. It also plans to split BRL1.25 billion between two series of 10-year debentures with one series pricing at the DI plus 2% and the other at either the IPCA consumer price index plus 1.4%

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