Suzano SA
For the period ended Dec 31, 2023. Filed Apr 26, 2024.
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The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.
FY2023 · Filed Apr 26, 2024
Contents
Export Prepayment Agreements (EPPs
On February 25, 2019, we entered into an export prepayment agreement in the amount of R$738.8 million, with annual interest payment of 8.35% p.a. and maturing in 2024.
On June 14, 2019, Suzano S.A., through its wholly owned subsidiary Suzano International Trade GmbH (formerly known as Fibria International Trade GmbH) and Fibria Overseas Finance Ltd., entered into a syndicated export prepayment transaction in the amount of US$750 million, with a term of six years, grace period of five years and quarterly interest payments of 1.15% plus Libor 3M. On December 27, 2021, we concluded a transaction to extend the debt maturity date to 2027. On July 1, 2023, Libor was discontinued, and the interest payment of 1.15% plus Libor was changed to 1.41161% plus SOFR rate.
On February 14, 2020, we, through our wholly owned subsidiary Suzano Pulp and Paper Europe S.A., entered into a syndicated export prepayment agreement in the amount of US$850 million with a term of six years and maturity in February 2026, grace period of four years and quarterly interest payments of 1.15% plus Libor 3M. On July 1, 2023, Libor was discontinued, and the interest payment of 1.15% plus Libor was changed to 1.41161% plus SOFR rate.
On February 10, 2021, we, through our subsidiary Suzano Pulp and Paper Europe S.A. (Suzano Europe), entered into a sustainability-linked export prepayment agreement in the amount of US$1.57 billion maturing in six years, with quarterly interest rate payment of LIBOR plus 1.15%, which may be subject to positive or negative adjustments ranging from -2bps/+2bps p.a. depending on our progress in achieving certain milestones towards satisfying key performance metrics (KPIs) related to our industrial water withdrawals and greenhouse gas emissions, to be confirmed by an independent external verifier. On July 1, 2023, Libor was discontinued, and the interest payment of 1.15% plus Libor was changed to 1.41161% plus SOFR rate.
On August 25, 2023, we entered into an export prepayment agreement in the amount of US$151.0 million (equivalent to R$736.3 million), with semiannual interest payment of Term SOFR 6 months +1.93% p.a. and maturing in 2029.
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