Telefonica Brasil to offer R$3.5 billion sustainability-linked bonds

By Marisa Wong

Los Angeles, July 1 – Telefonica Brasil SA’s board of directors has approved a seventh issue of simple non-convertible debentures in two series for a total amount of R$3.5 billion, according to a company announcement.

The first series of R$1.5 billion will have a maturity of three years, and the second series of R$2 billion will have a maturity of five years.

The debentures will be subject to a public offering with restricted placement efforts, the company said.

The debentures will be issued on July 12.

The debentures will have a sustainability component, which will allow them to be classified as “sustainability-linked” under the terms required by the International Capital Market Association.

The company is based in Sao Paulo, Brazil.

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