Raizen said it has secured backing from creditors and bondholders to proceed with an out-of-court restructuring totaling about 65 billion reais ($12.57 billion), the largest recorded in Brazil. The announcement reduces near-term default uncertainty and suggests the company has enough support to execute its debt workout. The news is material for Raizen and its lenders, but the broader market impact should be limited.
Raizen said it has secured backing from creditors and bondholders to proceed with an out-of-court restructuring totaling about 65 billion reais ($12.57 billion), the largest recorded in Brazil. The announcement reduces near-term default uncertainty and suggests the company has enough support to execute its debt workout. The news is material for Raizen and its lenders, but the broader market impact should be limited.
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neutral
Sentiment Score
0.15
