Raizen creditors tap Journey Capital, Felsberg as advisors, sources say

Cosan

28/04/2026 14:54

SAO PAULO, April 28 (Reuters) - A group of holders of local fixed-income debt issued by Brazilian sugar and ethanol firm Raizen RAIZ4.SA has tapped financial advisory company Journey Capital and law firm Felsberg for representation in the company's restructuring process, according to three people familiar with the matter.

Two of the people said the group holds about 14 billion reais ($2.81 billion) in debt issued by Raizen.

In a statement, Journey confirmed the hiring. Felsberg and Raizen declined to comment.

Earlier this month, Raizen began talks to convert debt into shares, a move that is key to securing support for an out-of-court agreement announced last month between the world's largest producer of sugar and cane-based ethanol and its bondholders and creditors holding about 65 billion reais of outstanding debt.

Last February, Reuters reported that Raizen, a joint venture between Shell and Cosan, had appointed law firms Pinheiro Neto and Cleary Gottlieb as legal advisers and Rothschild & Co as financial adviser to address its financial difficulties.

($1 = 4.9854 reais)

(Reporting by Luciana Magalhaes)

((Luciana.NovaesMagalhaes@thomsonreuters.com;))