On September 3, 2025, Suzano Netherlands B.V., guaranteed by Suzano S.A., priced US$1 billion senior unsecured notes due January 2036 at 98.714 to yield 5.667%, equivalent to T+145bps. This came tighter than the +150bps guidance and well inside the +180bps initial price talk. The coupon was set at 5.500%, with semiannual payments beginning January 15, 2026. The bonds are rated Baa3/BBB-/BBB-.
The notes are governed by New York law and feature a make-whole call at T+25bps plus accrued and unpaid interest until October 15, 2035, after which a par call applies. They also include an 85% clean-up call provision. Gross proceeds totaled US$987.1 million (before fees and expenses). Proceeds will be used to repurchase Suzano’s 2026 and 2027 notes pursuant to ongoing tender offers, followed by potential make-whole redemptions, subject to market conditions.
