Published on 9/10/2020 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Suzano Austria prices $750 million of 3.75% notes due 2031 at 327 bps spread
By Cristal Cody
Tupelo, Miss., Sept. 10 – Suzano Austria GmbH sold $750 million of 3.75% guaranteed global notes due Jan. 15, 2031 (Aa1//AAA) on Thursday at a spread of Treasuries plus 327 basis points, according to a market source.
Initial price talk was at the 4.5% area.
BNP Paribas Securities Corp., BofA Securities, Inc., Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, Rabo Securities USA, Inc., Scotia Capital (USA) Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG, Santander Investment Securities Inc. and SMBC Nikko Securities America, Inc. were the bookrunners.
The notes are guaranteed by Suzano SA.
Proceeds will be used to finance concurrent tender offers.
Suzano Austria is a Vienna-based subsidiary of Suzano. The pulp and paper company is based in Sao Paulo.
| Issuer: | Suzano Austria GmbH
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| Guarantor: | Suzano SA
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| Amount: | $750 million
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| Description: | Global notes
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| Maturity: | Jan. 15, 2031
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| Bookrunners: | BNP Paribas Securities Corp., BofA Securities, Inc., Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC, Rabo Securities USA, Inc., Scotia Capital (USA) Inc., Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, MUFG, Santander Investment Securities Inc. and SMBC Nikko Securities America, Inc.
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| Global coordinators: | BNP Paribas, BofA Securities, Inc., Credit Agricole Securities (USA) Inc., JPMorgan Securities LLC, Mizuho Securities USA LLC, Rabo Securities USA, Inc. and Scotia Capital (USA) Inc.
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| Coupon: | 3.75%
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| Spread: | Treasuries plus 327 bps
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| Trade date: | Sept. 10
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| Ratings: | Moody’s: Aa1
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| Fitch: AAA
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| Distribution: | SEC registered
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| Price talk: | 4.5% area
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