EX-1.2 3 tm2524938d7_ex1-2.htm EXHIBIT 1.2

Exhibit 1.2

 

SUZANO NETHERLANDS B.V.

 

TERMS AGREEMENT

 

Debt Securities

 

Guaranteed by Suzano S.A.

 

September 3, 2025

 

To: The Underwriters identified herein

 

Ladies and Gentlemen:

 

Suzano Netherlands B.V. (with its corporate seat in Amsterdam, the Netherlands) (the “Company”) agrees to sell to the several Underwriters named in Schedule I hereto for their respective accounts, on and subject to the terms and conditions of the Underwriting Agreement Basic Provisions attached hereto as Exhibit I, the following securities (the “Securities”) on the following terms:

 

Title of Securities: 5.500% Global Notes due 2036

 

Aggregate Principal Amount: U.S.$1,000,000,000

 

Ranking: Senior unsecured notes.

 

Interest/Coupon: 5.500%

 

Interest Payment Dates: January 15 and July 15 of each year, commencing on January 15, 2026 (short first coupon).

 

Interest Payment Record Dates: January 13 and July 13 of each year.

 

Maturity: January 15, 2036.

 

Redemption Provisions/Call Options: Prior to October 15, 2035 (the “Par Call Date”), the Company may redeem the Securities in whole at any time, or in part from time to time, at a redemption price based on a “make-whole” premium calculated on a yield of T+25bps, plus accrued and unpaid interest, if any, to the redemption date. At any time on or after the Par Call Date, the Company may redeem the Securities, in whole or in part at a redemption price equal to 100% of the principal amount of the Securities being redeemed plus accrued and unpaid interest on the principal amount of the Securities being redeemed to such redemption date.

 

The Company may redeem the Securities, in whole but not in part, at 100% of its principal amount plus accrued and unpaid interest and additional amounts, if any, at any time upon the occurrence of specified events relating to Brazilian, Dutch or other relevant jurisdictions’ tax laws.

 

 

 

 

In connection with any tender offer for the Securities, in the event that the holders of not less than 85% of the aggregate principal amount of the outstanding Securities validly tender and do not validly withdraw Securities in such tender offer or a third party purchases all the Securities held by such holders, then the Company will have the right, on not less than 10 nor more than 60 days’ prior notice, given not more than 30 days following such purchase date, to redeem all of the Securities that remain outstanding following such purchase at a price equal to the price paid to each other holder in such tender offer, plus, to the extent not included in the purchase price, accrued and unpaid interest and additional amounts, if any, on the Securities that remain outstanding, to the date of redemption (subject to the right of holders of record on the relevant record date to receive interest due on the relevant interest payment date).

 

Listing: The Company expects to list the Securities on the New York Stock Exchange.

 

Purchase Price: 98.304% of the principal amount, plus accrued interest, if any, from and including September 10, 2025, if settlement occurs after that date.

 

Registration Statement Nos.: 333-286881 and 333-286881-02.

 

Execution Time: 3:15 p.m. EDT on September 3, 2025.

 

Closing: 9:30 a.m. EDT on September 10, 2025, at the offices of Cleary Gottlieb Steen & Hamilton LLP, One Liberty Plaza, New York, New York, in Federal (same day) funds.

 

Representatives: BNP Paribas Securities Corp., BofA Securities, Inc., Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities LLC, and Rabo Securities USA, Inc.

 

Indenture: Indenture dated on or about September 10, 2025, as supplemented by a first supplemental indenture, dated on or about September 10, 2025.

 

Qualifications to Any Covenants or Representations Made by the Company or the Guarantor: None.

 

Underwriter Information: Banco Safra S.A., acting through its Cayman Islands Branch, BNP Paribas Securities Corp., BofA Securities, Inc., Credit Agricole Securities (USA) Inc., Goldman Sachs & Co. LLC, HSBC Securities (USA) Inc., Itau BBA USA Securities, Inc., J.P. Morgan Securities LLC, Mizuho Securities LLC, MUFG Securities Americas Inc., Rabo Securities USA, Inc., Santander US Capital Markets LLC, Scotia Capital (USA) Inc., SMBC Nikko Securities America, Inc. and UBS Securities LLC.

 

Notices to Underwriters: Notices to the Underwriters shall be directed to:

 

Banco Safra S.A., acting through its Cayman Islands Branch

Harbour Place, 5th Floor

103 South Church Street

P.O. Box 1353,

Grand Cayman – Ky1-1108

Cayman Islands

 

 

 

 

BNP Paribas Securities Corp.

787 Seventh Avenue

New York, New York 10019

Attention: Syndicate Desk

Tel: +1 (212) 841-2871

Toll Free: 1-800-854-5674

E-mail: DL.US.Syndicate.Support@us.bnpparibas.com

 

BofA Securities, Inc.

1540 Broadway

NY8-540-26-02

New York, New York 10036

USA

Facsimile: (646) 855-5958

Attention: High Grade Transaction Management/Legal

Email: dg.hg_ua_notices@bofa.com

 

Credit Agricole Securities (USA) Inc.

1301 Avenue of the Americas, 8th Floor

New York, New York 10019

U.S. Toll Free: +1 (866) 807-6030

U.S. Collect: +1 (212) 261-7802

E-mail: us.liabilitymanagement@ca-cib.com

Attention: Debt Capital Markets/Liability Management

 

Goldman Sachs & Co. LLC

200 West Street

New York, New York 10282

Attention: Registration Department

Fax: +1 (212) 902-9316

 

HSBC Securities (USA) Inc.

66 Hudson Boulevard

New York, New York 10001

Attention: Transaction Management Group

 

Itau BBA USA Securities, Inc.

599 Lexington Avenue, 34th Floor

New York, New York 10022

Attention: Debt Capital Markets, with a copy to Legal Department

Facsimile: +1 (212) 207-9076

 

J.P. Morgan Securities LLC

383 Madison Avenue

New York, New York 10179

USA

Attention: Latin America Debt Capital Markets

 

 

 

 

Mizuho Securities USA LLC

1271 Avenue of the Americas

New York, New York 10020

Attention: Latin America Debt Capital Markets

Email: BA_DCM_Notices@mizuhogroup.com

 

MUFG Securities Americas Inc.

1221 Avenue of the Americas, 6th Floor

New York, New York 10020

Attention: Liability Management

Phone: (212) 405-7440

Fax: (646) 434-3455

 

Rabo Securities USA, Inc.

151 W 42nd Street, 8th floor

New York, New York 100136

Attention: Debt Capital Markets

E-mail: DCMAmericas@rabobank.com

 

Santander US Capital Markets LLC

437 Madison Avenue

New York, New York 10022

Attention: Debt Capital Markets

Email: DCMAmericas@santander.us

 

Scotia Capital (USA) Inc.

250 Vesey Street

New York, New York 10281

Attention: Debt Capital Markets

Email: US.Legal@scotiabank.com / TAG@scotiabank.com

 

SMBC Nikko Securities America, Inc.

277 Park Avenue

New York, New York 10172

Attention: Debt Capital Markets

Toll-free: +1 (212) 224-5135

E-mail: prospectus@smbcnikko-si.com

 

UBS Securities LLC

11 Madison Avenue

New York, New York 10010

Attention: Fixed Income Syndicate

Telephone number: (203) 719-1088

Email: dl-synd-stamford@ubs.com

 

 

 

 

The respective principal amounts of the Securities to be purchased by each of the Underwriters are set forth opposite their names in Schedule I hereto.

 

To the extent not superseded or amended by the terms hereof, the provisions of the Underwriting Agreement Basic Provisions are incorporated herein by reference. Capitalized terms used herein and not otherwise defined shall have the meanings assigned to them in the Underwriting Agreement Basic Provisions.

 

This Terms Agreement may be signed in one or more counterparts, each of which shall constitute an original and all of which together shall constitute one and the same agreement.

 

If the foregoing is in accordance with your understanding of our agreement, kindly sign and return to the Company and the Guarantor one of the counterparts hereof, whereupon it will become a binding agreement among the Company, the Guarantor and the several Underwriters in accordance with its terms.

 

 

 

 

Very truly yours,

 

  SUZANO NETHERLANDS B.V.

 

  By:  /s/ Tiago Sousa Seixas
    Name:  Tiago Sousa Seixas
    Title: Managing Director

 

  By:  /s/ Justo Jose Gomez Palmes
    Name:  Justo Jose Gomez Palmes
    Title: Managing Director

 

  SUZANO S.A.

 

  By:  /s/ Marcos Moreno Chagas Assumpção
    Name:  Marcos Moreno Chagas Assumpção
    Title: Executive Vice-President of Finance and Investor Relations

 

  By:  /s/ Marcos Moreno Chagas Assumpção
    Name:  Maria Luiza de Oliveira Pinto e Paiva
    Title: Executive Vice-President of Sustainability, Communication and Brand

 

 

 

 

The foregoing Terms Agreement is hereby confirmed and accepted as of the date first above written.  
   
BANCO SAFRA S.A., ACTING THROUGH ITS CAYMAN ISLANDS BRANCH  
     
By:  /s/ Evandro Luiz de Almeida Pereira  
  Name:  Evandro Luiz de Almeida Pereira  
  Title: Director  

 

By:  /s/ Carlos Pelá  
  Name:  Carlos Pelá  
  Title: Director  

 

 

 

 

BNP PARIBAS SECURITIES CORP.

 

By:  /s/ Julien Pecoud-Bouvet  
  Name:  Julien Pecoud-Bouvet  
  Title: Director  

 

 

 

 

 

BOFA SECURITIES, INC.

 

By:  /s/ Maxim Volkov  
  Name:  Maxim Volkov  
  Title: Managing Director  

 

 

 

 

 

CREDIT AGRICOLE SECURITIES (USA) INC.

 

By:  /s/ Davis C. Travis  
  Name:  Davis C. Travis  
  Title: Managing Director  

 

By:  /s/ Ivan Hrazdira  
  Name:  Ivan Hrazdira  
  Title: Managing Director  

 

 

 

 

 

GOLDMAN SACHS & CO. LLC

 

By:  /s/ Sam Chaffin  
  Name:  Sam Chaffin  
  Title: Vice President  

 

 

 

 

HSBC SECURITIES (USA) INC.

 

By:  /s/ Alexei Remizov  
  Name:  Alexei Remizov  
  Title: Managing Director  

 

 

 

 

 

ITAU BBA USA SECURITIES, INC.

 

By:  /s/ Matthew Dukes  
  Name:  Matthew Dukes  
  Title: Managing Director  

 

By:  /s/ Pedro Frade Rodrigues  
  Name:  Pedro Frade Rodrigues  
  Title: Managing Director  

 

 

 

 

 

J.P. MORGAN SECURITIES LLC

 

By:  /s/ Lane Feler  
  Name:  Lane Feler  
  Title: Executive Director  

 

 

 

 

 

MIZUHO SECURITIES USA LLC

 

By:  /s/ Rodrigo Garcia de Leon Ferrer  
  Name:  Rodrigo Garcia de Leon Ferrer  
  Title: Managing Director  

 

 

 

 

 

MUFG SECURITIES AMERICAS INC.

 

By:  /s/ Richard Testa  
  Name:  Richard Testa  
  Title: Managing Director  

 

 

 

 

 

RABO SECURITIES USA, INC.

 

By:  /s/ Jan Hendrik de Graaff  
  Name:  Jan Hendrik de Graaff  
  Title: Managing Director  

 

By:  /s/ Mehdi Manii  
  Name:  Mehdi Manii  
  Title: Executive Director  

 

 

 

 

 

SANTANDER US CAPITAL MARKETS LLC

 

By:  /s/ Richard Zobkiw  
  Name:  Richard Zobkiw  
  Title: Executive Director  

 

 

 

 

 

SCOTIA CAPITAL (USA) INC.

 

By:  /s/ Juan Fullaondo  
  Name:  Juan Fullaondo  
  Title: Managing Director and Head  

 

 

 

 

 

SMBC NIKKO SECURITIES AMERICA, INC.

 

By:  /s/ Arthur Rubin  
  Name:  Arthur Rubin  
  Title: Managing Director  

 

 

 

 

 

UBS SECURITIES LLC

 

By:  /s/ Todd Mahoney  
  Name:  Todd Mahoney  
  Title: Managing Director, Head of DCM Syndicate Americas  

 

By:  /s/ Igor Grinberg  
  Name:  Igor Grinberg  
  Title: Managing Director, DCM Syndicate Americas