BNDES Sells Suzano Shares for $1.2 Billion

October 6, 2020

Cleary Gottlieb represented Suzano S.A. (Suzano) in 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.