Raizen agrees to $12.6 billion debt restructuring plan
Raizen reached an out-of-court deal to restructure $12.6 billion in debt. The plan follows months of talks to address high costs and recent weather impacts.
The prominent sugar and ethanol producer Raizen has finalized an out-of-court debt restructuring agreement with its creditors and bondholders. This major financial move, announced on Wednesday in Brazil, addresses obligations totaling approximately 65.1 billion reais, which is equivalent to roughly $12.61 billion.
Raizen operates as a strategic joint venture between the global energy giant Shell plc and the Brazilian industrial conglomerate Cosan S.A.. The company had been engaged in intensive negotiations for several months as it sought viable alternatives to stabilize its capital structure and manage a substantial debt burden.
