Suzano sizes debt sale

Suzano sizes debt sale

Debenture Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Rule 476 Brazil

Brazil's Suzano said its board has approved a BRL1bn ($245m) debenture deal in the local market, looking to raise money to add to working capital.

The São Paulo-based paper company plans to price the new nine-year notes at up to 101.2% of the DI interbank lending rate, it said in a securities filing on Monday.

S&P Global gave the notes a brAAA rating on the local scale, but it added that Suzano could face lower sales this year as China and the United States remain mired in a trade dispute. 

Suzano sold $1.25bn in dollar-denominated notes in May this year, issuing $1bn in new 10-year bonds at 5.18% and adding $250m to its 2047 notes at 6.245%. It previously retapped its 2029 notes in January and closed a $500m revolving credit line in March.

Last year, the company sold BRL4.68bn in eight-year debentures and secured a three-year, $6.9bn loan to finance the acquisition of rival Fibria.

The news that moves markets

Read the day's transactions and rumors right in your inbox.

Start free trial