Suzano S.A. Completes Issuance of $1 Billion Sustainability-Linked Senior Notes

July 01, 2021

São Paulo, Brazil – Paul Hastings LLP, a leading global law firm, represented the underwriters in connection with the $1 billion issuance of sustainability-linked notes by Suzano Austria GmbH and its parent guarantor, Suzano S.A., the world's leading producer of eucalyptus pulp and one of Latin America’s largest paper producers.

An aggregate amount of US$1 billion of the Global Notes due 2032 was issued at a rate of 3.125%. BNP Paribas Securities Corp., BofA Securities, Inc., Mizuho Securities USA LLC, J.P. Morgan Securities LLC, Rabo Securities USA, Inc. and Scotia Capital (USA) Inc. were the global coordinators, along with joint bookrunners Credit Agricole Securities (USA) Inc., Goldman Sachs Bank Europe SE, MUFG Securities Americas Inc. and SMBC Nikko Securities America, Inc. The transaction settled on July 1, 2021, with the proceeds used for specified debt repayment and general corporate purposes.

The Global Notes are characterized as sustainability-linked bonds with environmental key performance indicators associated with the goal of reducing Suzano’s industrial water withdrawal intensity by the end of 2026; and a goal of increasing the representative of women in leadership positions by the end of 2025, evidencing Suzano's commitment to a more efficient usage of natural resources in its operations and to diversity and inclusion objectives.

Partner David Flechner led the Paul Hastings team, which also included associate Diana Balassiano, and summer associates Kimberly Forster and Maria Miranda.

In 2020, Paul Hastings advised the underwriters in connection with the reopening of $500 million of sustainability-linked notes by Suzano S.A., with environmental key performance indicators associated with the goal of reducing Suzano’s carbon emissions by 2025.

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