Cosan | Debt Structure (3Q20)

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

 

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):

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

 

^RATINGS

	Global	National	Outlook
S&P	BB-		Stable
Moody’s	Ba2	Aa1.br	Stable
Fitch	BB	AAA	Stable