Cosan | Debt Structure (2Q20)
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GROSS DEBT PER BUSINESS (R$ MM)¹/ DEBT PROFILE²
Note 1: Net Debt Pro forma does not include obligations with preferred shareholders of BRL 1.1 billion.
Note 2: Pro forma Debt Profile, based on 50% of Raízen, and does not include obligations with preferred shareholders.
DEBT AMORTIZATION PROFILE³ LEVERAGE
Note 3: Pro forma Amorization Profile, based on 50% of Raízen, and does not include the obligations with preferred shareholders and Perpetual Bond.
Note 4: Normalized by Comgás’ Current Account and adjusted by Leases Liabilities (IFRS16).
COSAN S.A. 2027 COVENANTS
Net Debt / Pro forma EBITDA:
|< 1.5x – restricted payments up to 100% of Net income|
|WE ARE HERE||1.5x <> 2.5x restricted payments up to 75% of Net Income|
|> 2.5x – restricted payments up to 50% of Net Income|
Baskets for Restricted payments (all one-timers):
- Dividends declared on exercises before Jan, 2016 => up to BRL 250 MM
- Shares repurchases => up to BRL 250 MM
- Dividends declared after Jan 1,2016 or Shares repurchases => up to BRL 100 MM