Natura Cosméticos’ $1 Billion Sustainability-Linked Notes Offering

Davis Polk and Trench Rossi Watanabe (Baker McKenzie) advised Natura Cosméticos S.A. on the deal. Machado Meyer and White & Case advised BofA Securities, HSBC Securities (USA) Inc., Banco Bradesco BBI S.A., Citigroup Global Markets Inc., Itau BBA USA Securities, Inc. and Morgan Stanely & Co. LLC.

Natura Cosméticos S.A. (“Natura”) executed its offering of $1 billion aggregate principal amount of its 4.125% notes due 2028 guaranteed by Natura &Co Holding S.A., as part of Natura’s Sustainability-Linked Bond Framework.

Natura &Co is a global multi-channel, multi-brand cosmetics group that includes the Avon, Natura, The Body Shop and Aesop brands. The four brands that make up the group are committed to generating positive economic, social and environmental impacts.

The Davis Polk corporate team advising Natura included Manuel Garciadiaz (Picture) and Lourenco Lopes-Sabino. Po Sit and Tracy L. Matlock advised on U.S. tax matters. Allison Gunther advised on U.S. 1940 Act matters.

Involved fees earner: Marco Antônio Ferreira Coelho Filho – Cescon, Barrieu, Flesch & Barreto; Rafael Rahal Disposti – Cescon, Barrieu, Flesch & Barreto; Manuel Garciadiaz – Davis Polk & Wardwell; Allison Gunther – Davis Polk & Wardwell; Lourenço Lopes-Sabino – Davis Polk & Wardwell; Tracy Matlock – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell; Renata Augusto Passos – Machado Meyer Advogados; Eliana Helena de Gregorio Ambrósio Chimenti – Machado Meyer Advogados; Alessandra de Souza Pinto – Machado Meyer Advogados; Matheus Wassano Ishigaki – Machado Meyer Advogados; Luis Alberto Ambrósio – Trench, Rossi and Watanabe (BakerMckenzie); Evaristo Lucena – Trench, Rossi and Watanabe (BakerMckenzie); Thomaz Murta e Penna – Trench, Rossi and Watanabe (BakerMckenzie); Reinaldo Ravelli – Trench, Rossi and Watanabe (BakerMckenzie); Melanie von Staa Toledo – Trench, Rossi and Watanabe (BakerMckenzie);

Law Firms: Cescon, Barrieu, Flesch & Barreto; Davis Polk & Wardwell; Machado Meyer Advogados; Trench, Rossi and Watanabe (BakerMckenzie);

Clients: Banco Bradesco BBI S.A.; Bank of America Securities; Citigroup Global Markets Ltd; HSBC Securities; Itaú BBA USA Securities; Morgan Stanley; Natura Cosméticos S.A.;

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