Raízen Receives Majority Creditor Support for $13 Billion Debt Restructuring

According to Bloomberg, Raízen SA, a struggling Brazilian sugarcane and ethanol producer, recently received informal support from the majority of creditors for a $13 billion out-of-court debt restructuring proposal. The company proposed three repayment options for creditors, including debt-to-equity conversion and new debt issuance. Raízen expects more than 70% of creditors to support the plan, which also involves separating its sugarcane processing operations from fuel distribution.
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