Suzano’s R$7 Billion Equity Follow-on Offering

Pinheiro Guimarães and Cleary Gottlieb advised Suzano S.A., while Simpson Thacher & Bartlett LLP and Lefosse Advogados advised the underwriters in the offering.

Suzano S.A., a leading pulp and paper producer, completed the secondary public offering of 150,217,425 common shares, without par value held by BNDES Participações S.A. – BNDESPAR, including 13,180,000 Securities in the form of American Depositary Shares.

The global offering consisted of a public offering of the securities concurrently in Brazil (through an offering registered with the Comissão de Valores Mobiliários (the Brazilian Securities Commission)) and outside Brazil (in an offering registered with the U.S. Securities and Exchange Commission, under the U.S. Securities Act of 1933).

The price per security to the public was set at R$46.00, resulting in an aggregate sale price of R$6,910,001,550.00. The ADSs were offered and sold to the public at a price of U.S.$8.15 per ADS. The price per Security in the form of ADS corresponds to the price per Security translated into U.S. dollars, based on the selling exchange rate for U.S. dollars (PTAX) as published by the Central Bank of Brazil on the pricing date of the global offering.

J.P. Morgan Securities LLC, BofA Securities, Inc., Banco Bradesco BBI S.A., Itau BBA USA Securities, Inc. and XP Investments US, LLC acted as global coordinators and joint bookrunners for the international offering. Banco J.P. Morgan S.A., Bank of America Merrill Lynch Banco Múltiplo S.A., Banco Bradesco BBI S.A., Banco Itaú BBA S.A. and XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A. acted as underwriters in the Brazilian offering.

Suzano is the world’s largest producer of virgin market pulp, one of the largest vertically integrated producers of pulp and paper in Latin America and one of Brazil’s largest paper producers.

Pinheiro Guimarães advised Suzano with a team led by Cristina Tomiyama (partner; Picture) and Francisco José Pinheiro Guimarães (partner) and associates Camila Ohno, Mariana Ferez, Arnold Kim, Giuliano Giuzio and Jonas Assumpção.

Cleary Gottlieb Steen & Hamilton advised Suzano with a team led by Juan G. Giráldez (partner) and associates Andrea R. Lavourinha and Luisa Franciss Galliez.

Simpson Thacher & Bartlett LLP advised the underwriters with a team led by partners Todd Crider and Grenfel Calheiros, senior counsel Kirsten Davis and Alexandre Portnoi (international associate) and Teresita Acedo (associate), and Jonathan Cantor and Zachary Fialkow (tax).

Lefosse Advogados advised the underwriters with a team led by Luiz Octavio Lopes, Jana Araújo, Alicia Alves, Sara Abdu and Luana Pereira.

Involved fees earner: Luisa Franciss Galliez – Cleary Gottlieb Steen & Hamilton; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Andrea Lavourinha – Cleary Gottlieb Steen & Hamilton; Sara Abdu – Lefosse; Alicia Alves – Lefosse; Jana Araujo – Lefosse; Luiz Octavio Lopes – Lefosse; Jonas Assumpção – Pinheiro Guimarães; Mariana de Medeiros Ferez – Pinheiro Guimarães; Giuliano Giuzio – Pinheiro Guimarães; Arnold Kim – Pinheiro Guimarães; Camila Ohno – Pinheiro Guimarães; Francisco José Pinheiro Guimarães – Pinheiro Guimarães; Cristina Tomiyama – Pinheiro Guimarães; Teresita Acedo – Simpson Thacher & Bartlett; Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Todd Crider – Simpson Thacher & Bartlett; Kirsten Davis – Simpson Thacher & Bartlett; Zachary Fialkow – Simpson Thacher & Bartlett;

Law Firms: Cleary Gottlieb Steen & Hamilton; Lefosse; Pinheiro Guimarães; Simpson Thacher & Bartlett;

Clients: Banco Bradesco BBI S.A.; Banco Itau BBA; Banco J.P. Morgan S.A.; Bank of America Merrill Lynch Banco Múltiplo S.A.; Bank of America Securities; Itaú BBA USA Securities; J.P. Morgan Securities LLC; Suzano S.A.; XP Investimentos Corretora de Câmbio, Títulos e Valores Mobiliários S.A.; XP Investments;

Author: Ambrogio Visconti.