Cosan Limited’s $750 Million Notes Offering And Tender Offer


Davis Polk advised Cosan Limited in connection with its $750 million offering of 5.500% notes due 2029, which were issued pursuant to Rule 144A and Regulation S under the Securities Act, and on the concurrent tender offer and consent solicitation by Cosan Limited for its outstanding 5.950% notes due 2024.

Cosan is the world’s largest sugar and ethanol producer on a combined basis, the world’s largest grower of sugarcane, the largest natural gas distributor in Brazil, the operator of the largest bulk port terminal in the world, the world’s largest producer of energy from sugarcane, the second-largest lubricants player in Brazil and one of the largest private landowners in Brazil.

Banco Bradesco BBI S.A., Banco BTG Pactual S.A. – Cayman Branch, Citigroup Global Markets Inc., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC and Santander Investment Securities Inc. were the Dealer Managers and Solicitation Agents in connection with the Tender Offer and Consent Solicitation.

The Davis Polk corporate team included Manuel Garciadiaz (Picture) and Lourenço Lopes-Sabino. The tax team included Po Sit and M. Jared Sanders. J. Taylor Arabian provided 1940 Act advice.

Involved fees earner: Manuel Garciadiaz – Davis Polk & Wardwell; Lourenço Lopes-Sabino – Davis Polk & Wardwell; Jared Sanders – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Cosan Limited;

Author: Ambrogio Visconti.