BNDES Lends to Suzano

BNDES Lends to Suzano

Brazil Equity

Brazilian pulpmaker Suzano Papel e Celulose is getting BRL3.93bn in funding from the BNDES development bank to help build a new plant. BNDES has agreed to a BRL2.73bn loan package, and the purchase of up to BRL1.2bn in convertible domestic bonds. The loan facility is divided into BRL1.06bn at 11.5 years with a 3.5-year grace period paying 6.00%, BRL817m at 10 years with a 2-year grace period paying a fixed 5.50%, BRL425m at 10 years with a 2-year grace period paying TJLP plus 1.81%, BRL367m at 1

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