Raizen Rout Deepens as Pressure Mounts on Brazil Corporate Debt

Raízen SA’s dollar bonds extended losses for a second session amid a broad selloff in Brazilian corporate debt.

• Dollar notes due in 2035 fell 14.25 cents to trade at 68.25 cents on the dollar, according to Trace data
• Raízen — a joint venture between Brazil’s Cosan SA and Shell Plc — has seen its debt load climb following an ambitious expansion push that failed to deliver expected returns
• NOTE: Brazilian corporates have come under strain in recent weeks amid a series of setbacks, from Ambipar’s creditor-protection filing to Braskem’s capital review and mounting concern that Banco Master’s troubles could spill ...