By Rebecca Melvin
New York, Sept. 18 – Suzano Austria GmbH, a subsidiary of Brazil’s Suzano Papel e Celulose SA, priced $1 billion of 6% 10-year senior notes (BBB-) at 99.065 on Monday to yield 6 1/8%, according to a syndicate source.
Initial price talk for the Rule 144A and Regulation S notes was 6 3/8%, and there were more than $3 billion in orders for the new issue, which was postponed following roadshow meetings two weeks ago because of market volatility and which represents the first new paper for the Latin America region debt market in two months.
Proceeds will be used to fund the company’s merger with Fibria Celulose SA.
BNP Paribas, JPMorgan, Mizuho, Rabobank and others were bookrunners for the issue.
Brazil-based Suzano is a pulp and paper company.
| Issuer: | Suzano Austria GmbH
|
| Guarantor: | Suzano Papel e Celulose SA
|
| Issue: | Senior unsecured notes
|
| Amount: | $1 billion
|
| Maturity: | Jan. 15, 2029
|
| Bookrunners: | BNP Paribas, JPMorgan, Mizuho, Rabobank
|
| Coupon: | 6%
|
| Price: | 99.065
|
| Yield: | 6 1/8%
|
| Trade date: | Sept. 17
|
| Rating: | S&P: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
| Talk: | 6 3/8%
|
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