Creditors issuing Raízen debentures adhere to the recovery plan

Investors with debt securities issued by Raízen approved the extrajudicial recovery plan presented by the company. The holders of the company's fourth debenture issue made the decision on Tuesday (16), according to a document published by the company at the CVM (Securities Commission).

According to the minutes of the meeting, investors representing 48.58% of the debentures in circulation participated in the deliberation. Among those present were funds administered or managed by institutions such as Porto Seguro Investimentos, Paramis Investimentos, BTG Pactual Asset Management, Citibank and Lift Capital.

The proposal was approved unanimously among the participants, with no votes against or abstentions. The decision takes place in the context of the extrajudicial recovery process initiated by Raízen in March this year.

According to the document, the request for extrajudicial recovery led to the early maturity of the debenture issue, a situation in which the debt can be considered payable before the date originally scheduled for payment. Given this scenario, investors were invited to analyze the terms of the proposal presented by the company and define the group's position in the process.

In addition to approving the plan, the debenture holders confirmed the fiduciary agent's formal adherence to the proposal, previously formalized based on guidance given at a meeting held on June 3.

Debenture holders also rejected the possibility of a new suspension of the meeting to deal with the issue at a future date. According to the minutes, those present understood that there was no need for further deliberations related to the plan at that time.

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Source: CNN