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v3.20.2

LOANS, FINANCING AND DEBENTURES | 6 Months Ended
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Jun. 30, 2020
LOANS, FINANCING AND DEBENTURES |
LOANS, FINANCING AND DEBENTURES | 18.LOANS, FINANCING AND DEBENTURES 18.1.Breakdown by type
|  |  |  | Average |  |  |  |  |  |
|  |  |  | annual |  | Current |  | Non-current |  | Total
|  |  |  | interest rate - |  | June 30, |  | December 31, |  | June 30, |  | December 31, |  | June 30, |  | December 31,
Type |  | Interest rate |  | % |  | 2020 |  | 2019 |  | 2020 |  | 2019 |  | 2020 |  | 2019
In foreign currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BNDES |  | UMBNDES |  | 5.93 |  | 32,941 |  | 26,307 |  | 27,165 |  | 27,620 |  | 60,106 |  | 53,927
Bonds (1) |  | Fixed |  | 5.71 |  | 806,695 |  | 640,177 |  | 36,114,088 |  | 27,375,673 |  | 36,920,783 |  | 28,015,850
Export credits (ACC - pre-payment) (1) |  | LIBOR/Fixed |  | 1.52 |  | 2,735,141 |  | 1,994,868 |  | 24,141,791 |  | 15,431,478 |  | 26,876,932 |  | 17,426,346
Others |  |  |  |  |  | 6,445 |  | 3,481 |  |  |  |  |  | 6,445 |  | 3,481
|  |  |  |  |  | 3,581,222 |  | 2,664,833 |  | 60,283,044 |  | 42,834,771 |  | 63,864,266 |  | 45,499,604
In local currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BNDES |  | TJLP |  | 7.18 |  | 285,382 |  | 283,658 |  | 1,389,771 |  | 1,517,649 |  | 1,675,153 |  | 1,801,307
BNDES |  | TLP |  | 9.72 |  | 19,036 |  | 18,404 |  | 431,800 |  | 441,233 |  | 450,836 |  | 459,637
BNDES |  | Fixed |  | 5.06 |  | 33,272 |  | 39,325 |  | 62,313 |  | 77,333 |  | 95,585 |  | 116,658
BNDES |  | SELIC |  | 5.50 |  | 85,538 |  | 78,458 |  | 1,076,966 |  | 718,017 |  | 1,162,504 |  | 796,475
FINAME |  | Fixed |  | 6.43 |  | 4,276 |  | 4,781 |  | 7,917 |  | 9,564 |  | 12,193 |  | 14,345
BNB |  | Fixed |  | 6.73 |  | 35,300 |  | 37,815 |  | 139,361 |  | 156,904 |  | 174,661 |  | 194,719
CRA (“Agribusiness Receivables Certificates”) |  | CDI/IPCA |  | 5.53 |  | 1,379,045 |  | 2,860,938 |  | 2,971,744 |  | 2,952,451 |  | 4,350,789 |  | 5,813,389
NCE (Export credit note) |  | CDI |  | 5.73 |  | 65,940 |  | 131,914 |  | 1,273,045 |  | 1,270,065 |  | 1,338,985 |  | 1,401,979
Rural producer Certificate |  | CDI |  | 8.62 |  | 3,955 |  | 5,840 |  | 273,440 |  | 273,303 |  | 277,395 |  | 279,143
Export credits (“Pre payment”) |  | Fixed |  | 8.07 |  | 23,276 |  | 77,694 |  | 1,313,123 |  | 1,312,586 |  | 1,336,399 |  | 1,390,280
FCO (“Central West Fund”), FDCO (“Central West Development Fund”) and FINEP |  | Fixed |  | 7.99 |  | 72,413 |  | 76,596 |  | 441,912 |  | 475,905 |  | 514,325 |  | 552,501
Others (Revolving Cost, Working capital and Industrial Development Fund (“FDI”) and fair value adjustment on business combination |  | Fixed |  | 0.40 |  | (52,342) |  | (62,302) |  | 4,470 |  | 4,559 |  | (47,872) |  | (57,743)
Debentures |  | CDI |  | 6.27 |  | 9,810 |  | 9,997 |  | 5,413,548 |  | 5,412,035 |  | 5,423,358 |  | 5,422,032
|  |  |  |  |  | 1,964,901 |  | 3,563,118 |  | 14,799,410 |  | 14,621,604 |  | 16,764,311 |  | 18,184,722
|  |  |  |  |  | 5,546,123 |  | 6,227,951 |  | 75,082,454 |  | 57,456,375 |  | 80,628,577 |  | 63,684,326
Interest on financing |  |  |  |  |  | 1,019,483 |  | 886,886 |  |  |  | 136,799 |  | 1,019,483 |  | 1,023,685
Non-current funding |  |  |  |  |  | 4,526,640 |  | 5,341,065 |  | 75,082,454 |  | 57,319,576 |  | 79,609,094 |  | 62,660,641
|  |  |  |  |  | 5,546,123 |  | 6,227,951 |  | 75,082,454 |  | 57,456,375 |  | 80,628,577 |  | 63,684,326
| 1) |  | The variation is due to the increase in the exchange rate in the six-month period ended June 30, 2020.
18.2.Rollforward in loans, financing and debentures
|  | June 30, |  | December 31,
|  | 2020 |  | 2019
Beginning balance |  | 63,684,326 |  | 35,737,509
Amounts from the business combination |  |  |  | 20,667,096
Reclassification - accounts payable from lease operations |  |  |  | (18,225)
Fundraising |  | 6,700,529 |  | 18,993,837
Interest accrued |  | 1,736,775 |  | 3,362,250
Exchange rate variation, net |  | 16,364,585 |  | 1,781,562
Settlement of principal |  | (6,224,940) |  | (13,994,708)
Settlement of interest |  | (1,682,413) |  | (2,977,957)
Amortization of fundraising costs |  | 39,055 |  | 185,807
Other |  | 10,660 |  | (52,845)
Ending balance |  | 80,628,577 |  | 63,684,326
18.3.Breakdown by maturity – non current
|  | 2021 |  | 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027 onwards |  | Total
In foreign currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BNDES - Currency basket |  | 2,264 |  | 13,583 |  | 11,318 |  |  |  |  |  |  |  |  |  | 27,165
Bonds |  |  |  |  |  |  |  | 3,266,344 |  | 3,238,123 |  | 3,822,186 |  | 25,787,435 |  | 36,114,088
Export credits (ACC pre-payment) |  | 92,600 |  | 2,536,851 |  | 10,058,960 |  | 7,536,819 |  | 3,425,584 |  | 490,977 |  |  |  | 24,141,791
|  | 94,864 |  | 2,550,434 |  | 10,070,278 |  | 10,803,163 |  | 6,663,707 |  | 4,313,163 |  | 25,787,435 |  | 60,283,044
In local currency |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
BNDES – TJLP |  | 136,711 |  | 268,806 |  | 268,026 |  | 239,884 |  | 292,572 |  | 169,102 |  | 14,670 |  | 1,389,771
BNDES – TLP |  | 9,433 |  | 18,866 |  | 18,866 |  | 18,866 |  | 17,618 |  | 20,120 |  | 328,031 |  | 431,800
BNDES – Fixed |  | 14,475 |  | 24,560 |  | 18,599 |  | 4,679 |  |  |  |  |  |  |  | 62,313
BNDES – Selic |  | 48,712 |  | 94,876 |  | 118,336 |  | 110,275 |  | 234,525 |  | 197,061 |  | 273,181 |  | 1,076,966
FINAME |  | 1,908 |  | 2,786 |  | 1,656 |  | 1,198 |  | 369 |  |  |  |  |  | 7,917
BNB |  | 17,569 |  | 33,081 |  | 35,199 |  | 33,085 |  | 10,258 |  | 10,169 |  |  |  | 139,361
CRA (“Agribusiness Receivables Certificates”) |  |  |  | 1,512,680 |  | 1,459,064 |  |  |  |  |  |  |  |  |  | 2,971,744
Export credit note |  |  |  |  |  |  |  |  |  | 640,800 |  | 632,245 |  |  |  | 1,273,045
Rural producer certificate |  |  |  |  |  |  |  |  |  | 137,500 |  | 135,940 |  |  |  | 273,440
Export credits (“Pre payment”) |  |  |  |  |  |  |  | 1,313,123 |  |  |  |  |  |  |  | 1,313,123
FCO (“Central West Fund”), FDCO (“Central West Development Fund”) and FINEP |  | 33,993 |  | 67,986 |  | 67,986 |  | 67,986 |  | 67,986 |  | 67,986 |  | 67,989 |  | 441,912
Others (Revolving costs, working capital, FIDC and FDI) |  | 4,470 |  |  |  |  |  |  |  |  |  |  |  |  |  | 4,470
Debentures |  |  |  |  |  |  |  |  |  | 2,340,550 |  | 2,325,659 |  | 747,339 |  | 5,413,548
|  | 267,271 |  | 2,023,641 |  | 1,987,732 |  | 1,789,096 |  | 3,742,178 |  | 3,558,282 |  | 1,431,210 |  | 14,799,410
|  | 362,135 |  | 4,574,075 |  | 12,058,010 |  | 12,592,259 |  | 10,405,885 |  | 7,871,445 |  | 27,218,645 |  | 75,082,454
18.4.Breakdown by currency
|  | June 30, |  | December 31,
|  | 2020 |  | 2019
Brazilian Reais |  | 16,751,206 |  | 18,170,261
U.S. Dollar |  | 63,817,265 |  | 45,460,138
Currency basket |  | 60,106 |  | 53,927
|  | 80,628,577 |  | 63,684,326
18.5.Fundraising costs The fundraising costs are amortized based on terms agreements and effective interest rate.
|  |  |  |  |  | Balance to be amortized
|  |  |  |  |  | June 30, |  | December 31,
Nature |  | Cost |  | Amortization |  | 2020 |  | 2019
Bonds |  | 343,642 |  | 95,226 |  | 248,416 |  | 201,467
CRA and NCE |  | 125,222 |  | 85,955 |  | 39,267 |  | 47,443
Export credits (ACC pre-payment) |  | 102,769 |  | 33,875 |  | 68,894 |  | 40,382
Debentures |  | 24,467 |  | 6,915 |  | 17,552 |  | 19,065
BNDES (“IOF”) (1) |  | 62,658 |  | 18,435 |  | 44,223 |  | 38,447
Others |  | 18,147 |  | 13,934 |  | 4,213 |  | 4,590
|  | 676,905 |  | 254,340 |  | 422,565 |  | 351,394
| 1) |  | Tax on Financial Operations
18.6.Relevant transactions entered into the period 18.6.1.Export Prepayment Agreements ("EPP") On February 14, 2020, Suzano, through its wholly-owned subsidiaries Suzano Pulp and Paper Europe S.A., Suzano Austria GmbH and Fibria Overseas Finance Ltd., entered into a syndicated export prepayment agreement in the amount of US$850,000 (equivalent, on the transaction date, to R$3,672,259), with a term of six years and maturity in February 2026, grace period of 4 years, quarterly interest payments of 1.15% p.a. plus LIBOR 3M. This transaction is fully and unconditionally guaranteed by Suzano S.A. 18.6.2.Revolving credit facility On April 2, 2020, the Company through its wholly-owned subsidiary Suzano Pulp and Paper Europe S.A, disbursement of US$500,000 (equivalent, on the transaction date, to R$2,638,221) of its revolving credit facility maintained with certain financial institutions with quarterly payments of 1.30% plus quarterly LIBOR and maturity in February 2024. The disbursement is in line with the preventive measures that the Company has been taking to mitigate eventual impacts resulting from the COVID-19 pandemic and aims to bring even more strength to the liquidity position of the Company. 18.6.3.Brazilian National Bank for Economic and Social Development (BNDES) On June 29, 2020, the Company raised with BNDES the amount of R$400,000 indexed to the Selic interest rate, plus fixed interest of 1.96% p.a., with an average term of 124 months, maturing in February 2040. This funding is in line with the company's strategy of lengthening of the average of its obligations and efficiency in servicing its debt (cost of debt). 18.7.Relevant transactions settled in the period 18.7.1.Export Prepayment Agreements (“EPP”) On February 14, 2020, Suzano, through its wholly-owned subsidiary Suzano Pulp and Paper Europe S.A., voluntarily prepaid the export prepayment agreement in the amount of U.S.$755,864 (equivalent, on the transaction date, to R$3,240,229), with quarterly interest payments of 1.15% p.a. plus quarterly LIBOR, which was scheduled to mature in February 2023. 18.7.2.Make-whole Senior Notes (“Notes 2021”) On March 31, 2020, the Company through its wholly-owned subsidiary Suzano Trading Ltd., redeem all of the outstanding of Senior Notes 2021 in the total amount of US$199,864 (equivalent, on the transaction date, to R$1,039,032) considering redemption price of 104.287% plus interest proportional to the period. 18.7.3.Agribusiness Receivables Certificates (CRA) On April 13, 2020, the Company disbursed the total amount of R$612,779, from this amount R$600,000 was related to the payment of principal and R$12,779 of interest of the Agribusiness Receivables Certificate issued in April 2016, with interest of 98% of the CDI, this payment was made due to the normal maturity of the CRA. On June 22, 2020, the single installment of the CRA principal of R$880,155, issued in June 2016, with 97% interest on the CDI, matured. The company disbursed R$895,655 as principal (R$880,155) and interest (R$15,500). 18.8.Guarantees Some loan and financing agreements have guarantees clauses, in which the financed equipment or other property, plant and equipment are offered by the Company, as disclosed in Note 15.1. The Company does not have contracts with restrictive financial clauses (financial covenants) to be complied with.

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