Separately, Cosan approached BNDES, the development bank run by Mercadante, to seek financial support for Raízen, according to some of the people. The proposal is facing resistance within the development bank, another person said, with officials wary of increasing exposure to the group as Raízen’s credit profile deteriorates. Economic team officials also mentioned that before BNDES considers any kind of aid, the company needs to present a concrete and structured capitalization plan.






