Debt Profile

Cosan | Debt Structure (1Q21)

Click here to access the Company’s debt structure slide.

Note 1: Includes 50% of Raízen’s debt, and disregards: (i) PESA in Raízen Energia, (ii) obligations to preferred shareholders and (iii) liabilities and leases (IFRS 16).

 

 

Note (1): Includes 50% of Raízen’s debt and obligations to preferred shareholders, and disregards liabilities and leases (IFRS16).
Note (2) Proforma view of LTM EBITDA, i.e., includes 50% of Raízen and 100% of the results of Rumo and of the holding companies Cosan Logística S.A. and Cosan Limited, adjusted by the effect of the CCR of Comgás prior to June 2020 and by the lease liabilities (IFRS 16) at Raízen.

 

 RELEVANT COVENANTS – COSAN CORPORATE

  • Net Debt / Pro forma EBITDA:

-< 1.5x – restricted payments up to 100% of Net income
  1.5x <> 2.5x restricted payments up to 75% of Net Income
WE ARE HERE > 2.5x – restricted payments up to 50% of Net Income

 

 

 

 

  • Baskets for Restricted payments (all one-timers):

  1.  Dividends declared on exercises before Jan, 2016 => up to BRL 250 MM
  2.  Shares repurchases => up to BRL 250 MM
  3.  Dividends declared after Jan 1,2016 or Shares repurchases => up to BRL 100 MM

 

Last update: June 2, 2021