By Rebecca Melvin
New York, Nov. 6 – Brazil’s Suzano Papel e Celulose SA priced on Tuesday a $500 million tap of its 7% senior notes due 2047 (rating: //BBB-) at 101.842 to yield 6.85%, according to a syndicate source.
The new notes will form one series with Suzano’s existing $500 million of 7% notes due 2047.
Suzano plans to use the proceeds for general corporate purposes.
Bank of America, BNP Paribas, JPMorgan, Mizuho and Rabobank were joint bookrunners of the Rule 144A and Regulation S deal.
The issuing entity is Suzano Austria GmbH, which is guaranteed by Suzano Papel e Celulose, a pulp and paper company based in Salvador, Brazil.
| Issuer: | Suzano Austria GmbH
|
| Guarantor: | Suzano Papel e Celulose SA
|
| Issue: | Senior notes
|
| Amount: | $500 billion
|
| Maturity: | March 16, 2047
|
| Bookrunners: | Bank of America, BNP Paribas, JPMorgan, Mizuho and Rabobank
|
| Coupon: | 7%
|
| Price: | 101.842
|
| Yield: | 6.85%
|
| Trade date: | Nov. 6
|
| Settlement date: | Nov. 9
|
| Rating: | S&P: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Total deal size: | $1 billion
|
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