Brazil's largest sugar company, Raizen, reaches a $12.6 billion debt restructuring agreement.

On March 11th, it was reported that Raizen, the largest sugar and ethanol company in Brazil, has reached an out-of-court debt restructuring agreement with creditors and bondholders, involving approximately 65.1 billion reais in debt. Raizen is a joint venture between Brazilian conglomerate Cosan SA and oil giant Shell. Previously, it was reported that the company was considering potential asset sales and halting the construction of new factories in an effort to reduce its debt.