Chicago, Oct. 21 – B3 SA - Brasil, Bolsa, Balcao priced $700 million of 4 1/8% 10-year sustainability notes (Ba1) at par, according to a series of regulatory notices.
The interest rate could be impacted by the company’s sustainability goals.
It could be increased be 12.5 basis points if it does not create a diversity index by December 2024.
A separate 12.5 bps increase would take place if the percentage of women in leadership positions at the company is not increased to at least 35% from the current 27.2% level by September 2027.
Proceeds will be used for general corporate purposes, according to Moody’s Investors Service.
B3 is Brazil’s stock exchange.
| Issuer: | B3 SA - Brasil, Bolsa, Balcao
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| Issue: | Sustainability notes
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| Amount: | $700 million
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| Tenor: | 10 years
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| Coupon: | 4 1/8%, with step-ups of 12.5 bps if B3 does not create a diversity index by December 2024 and if percentage of women in leadership is not at least 35% by September 2027
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| Price: | Par
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| Yield: | 4 1/8%
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| Trade date: | Sept. 15
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| Ratings: | Moody’s: Ba1
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