BNDES’ $1.2 Billion Shares Offering

Cleary Gottlieb represented Suzano S.A. in the offering.

Suzano S.A. (Suzano) completed a global equity offering by Banco Nacional de Desenvolvimento Econômico e Social (BNDES) of 150.2 million common shares of Suzano, including common shares represented by common American depositary shares (ADSs).

The offering consisted of an SEC-registered international offering of common shares and common ADSs in the United States and other countries outside Brazil, and a concurrent public offering of common shares in Brazil. The offering priced on October 1, 2020, and closed on October 6, 2020. The aggregate proceeds of the global offering to BNDES were approximately $1.2 billion.

The Cleary corporate team advising Suzano included São Paulo based partner Juan Giráldez (Picture), counsel Jonathan Mendes de Oliveira, and associates Andrea Lavourinha, and Luisa Franciss Galliez. New York based Counsel J.J. Gifford and law clerk Zhiyuan Zuo provided tax advice.

Involved fees earner: Luisa Franciss Galliez – Cleary Gottlieb Steen & Hamilton; Jonathan Gifford – Cleary Gottlieb Steen & Hamilton; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Andrea Lavourinha – Cleary Gottlieb Steen & Hamilton; Jonathan Mendes de Oliveira – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Suzano S.A.;

Author: Ambrogio Visconti.