THE WHAT? Natura &Co has signalled its intention to issue dollar-denominated sustainability-linked bonds, according to a report published by GlobalCapital.
THE DETAILS HSBC and Bank of America have been named as global coordinators on the proposed senior unsecured notes. Joint bookrunners were listed as Bradesco, Citi, Itau and Morgan Stanley.
Fitch has assigned a BB rating to the SLBs to be issued by Natura Cosmeticos, and guaranteed by Natura. Pricing of the notes will be linked to greenhouse gas emissions and plastic recycling.
THE WHY? Proceeds will be used to refinance debt, including the existing notes, according to Fitch’s report.