Raizen Debt Holders Deliberate Restructuring Plan with Shell and Ometto Support
Raizen's Debt Restructuring Developments
Debtholder Meeting and Deliberations
SAO PAULO, June 3 (Reuters) - Brazilian sugar and ethanol maker Raizen said on Wednesday that holders of local debentures and agribusiness receivables certificates (CRA) would meet later in the day to deliberate on an out-of-court debt restructuring plan.
Details of the Restructuring Plan
Shell's Capital Injection
The plan includes a 3.5 billion real ($699 million) injection from Shell at 0.25 real per share and a potential additional 500 million real capital injection by billionaire Rubens Ometto's Aguassanta holding.
Draft Plan and Debt Conversion
• Raizen had previously unveiled a draft plan, including the conversion of 45% of restructured debt into equity at 0.25 real per share.
Ongoing Negotiations
• Key terms remain under negotiation with financial creditor groups, the company said.
Potential for Additional Capital
• Reuters reported on Tuesday that creditors and bondholders were working to finalize terms, including whether Ometto could inject fresh capital at a later stage.
Financial Context
($1 = 5.0046 reais)
Reporting Credits
(Reporting by Gabriel Araujo; Editing by Louise Heavens and Joe Bavier)
