AMERICAS

摘要

Conglomerate cosan will go on the road this week to market a US dollar bond, which will finance the tender of its 8.25% perps. Cosan will be in Los Angeles and Switzerland on Monday, in Boston and London on Tuesday and in New York on Wednesday. Bank of America Merrill lynch, Bradesco, Itau BBA and Morgan Stanley have been mandated on any potential 144A/Reg S offering, which Moody's and S&P are expected to rate Ba1 and BB, respectively. Investors tendering their perps by the early bird date of December 1 will receive US$1,055 for each US$1,000 submitted. Thereafter, but before the final expiry date, payment drops to US$1,025. The tender is conditional upon receiving financing. Holders that tender will automatically consent to proposed amendments to the indenture eliminating restrictive covenants. Cosan, a conglomerate that produces bioethanol, sugar, energy and food products, is considering a spin-off of its gas business.