Raízen reaches R$64.7 billion extrajudicial debt restructuring agreement, avoiding judicial recovery

Summary

Raízen, a Brazilian energy company, confirmed an extrajudicial debt restructuring agreement worth R$64.7 billion with the majority of its creditors. The agreement, announced via a material fact notice on Friday (5), prevents the company from entering judicial recovery. The plan has significant adherence from all creditor groups (international bondholders, local bondholders, and banks), representing approximately 75% of the included obligations. The company needed approval from a simple majority (50% plus one) to avoid judicial recovery proceedings.

Source

bskyRaízen reaches R$64.7 billion extrajudicial debt restructuring agreement, avoiding judicial recoverywww1.folha.uol.com.br