Cosan, Brazil’s largest sugar and ethanol producer, aims to raise as much as 10 billion reais ($1.9 billion) in a public offering to address its increasing debt burden. Key investors to support Cosan’s debt restructuringCopy link to sectionBTG Pactual Holdings will provide significant support for the proposed capital raising, with an investment of 4.5 billion reais. This has exacerbated the company’s financial troubles, and Brazil’s persistent high-interest-rate environment has further reduced profit margins. Leadership succession and long-term strategy amid financial turmoilCopy link to sectionIn addition to addressing the company’s debt, the capital raising paves the way for leadership changes at Cosan. Cosan recorded a net debt of 17.5 billion reais ($3.3 billion) at the end of June, a figure that had remained consistent since the first quarter.