April 19 (Reuters) – Brazilian fuel and sugar giant Raizen’s bank creditors have presented the company with a new restructuring proposal, Bloomberg News reported on Sunday. As part of the plan, creditors are proposing that 30% of the proceeds from the sale of Argentine assets be used to pay down debt, the Bloomberg report said, […]
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Bank creditors for Brazil’s Raizen make restructuring proposal, Bloomberg reports
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April 19 (Reuters) – Brazilian fuel and sugar giant Raizen’s bank creditors have presented the company with a new restructuring proposal, Bloomberg News reported on Sunday.
As part of the plan, creditors are proposing that 30% of the proceeds from the sale of Argentine assets be used to pay down debt, the Bloomberg report said, citing people familiar with the matter.
Reuters could not immediately verify the report.
(Reporting by Chandni Shah in Bengaluru; Editing by Will Dunham)