TozziniFreire provided Brazilian counsel to Citigroup Global Markets, Itau BBA USA Securities, Merrill Lynch, Morgan Stanley and Santander Investment Securities on the $500 million bond issue.
Klabin is considered the biggest paper producer, exporter and recycler in Brazil. It has 17 industrial plants in Brazil and one in Argentina. The company issued the green bonds to finance projects and activities to improve its environmental performance pursuant to the Green Bond Principles. These principles are voluntary guidelines that recommend transparency and disclosure and promote integrity in the development of the Green Bond market. They provide issuers guidance on the key components involved in launching a credible Green Bond and aid investors by ensuring availability of information necessary to evaluate the environmental impact of their investments.
Partners Alexei Bonamin and Kenneth Ferreira led the team at TozziniFreire advising the initial purchasers. White & Case advised the banks under US law.
The issuer, Klabin, instructed Clifford Chance for US law matters and Mattos Filho in Brazil.