September 11, 2020 |
Brazilian pulp and paper producer Suzano sold $750 million worth of long 10-year sustainability bonds on Thursday to fund a buyback offer that expired the same day, according to a source involved in the deal.
Suzano priced the 3.75% 2031 bonds at 99.32 to yield 3.95%, or 327 basis points over US Treasury notes, the source said. The company plans to settle the notes on September 14.
The deal started with initial price talk in the mid-4% area, before it set guidance at 4%, plus or minus five basis
Brazilian pulp producer issues $750 mln in 2031 notes with rates tied to greenhouse gas emissions