Raizen proposes alternative terms to creditors for debt restructuring, Bloomberg reports

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Brazilian fuel and sugar company Raizen has presented an alternative proposal to creditors for a 65 billion-real ($13.05 billion) debt restructuring. The company is seeking to raise up to 5 billion reais in fresh capital, in addition to 4 billion reais already pledged by Shell and Cosan’s Rubens Ometto. Raizen is resisting demands for shareholders to surrender board seats or for executives to be held liable for future liabilities, but has agreed to form a creditors’ committee to enhance governance oversight.

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