By Brazil Stock Guide – Raizen SA’s dollar bonds staged a partial rebound on Monday after last week’s heavy selloff that rattled the Brazilian credit market. The company’s 2054 notes were quoted at about 75 cents on the dollar, compared with 65 cents on Friday, according to traders familiar with the matter. Shorter-dated bonds maturing in 2032 and 2034 also recovered to around 80 cents.
In a securities filing, Raizen (RAIZ4.SA) said it has no plans for debt restructuring or for filing either judicial or extrajudicial recovery. The firm highlighted a cash position of 15.7 billion reais and reiterated its strategy to “optimize the debt profile and capital structure.”
The Raizen episode unfolds amid broader credit-market stress. Ambipar (AMBP3.SA) has taken precautionary legal measures against creditors, while Braskem (BRKM5.SA) faces mounting speculation over a possible debt restructuring. Both groups, like Raizen, have significant volumes of outstanding bonds in local and international markets.
Analysts at Fitch Ratings warned in a recent report that corporate debt conditions could tighten if investor confidence weakens further. They noted that the local credit market, which has enjoyed ample liquidity for more than a year, risks a downturn similar to the one seen in 2023 following the collapse of Americanas SA (AMER3.SA).
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