Indebtedness and Capital Markets
Indebtedness
At December 31, 2018, gross debt amounted to R$35.7 billion, composed of 90.4% long-term maturities and 9.6% short-term maturities, with 73.8% denominated in foreign currency and 26.2% in local currency. The percentage of gross debt denominated in foreign currency, considering the effect from debt hedge, was 98.3%. The 50.0% increase in gross debt reflects funds raised during the quarter for the business combination with Fibria.
Meanwhile, net debt stood at R$10.3 billion (US$2.7 billion) on December 31, 2018, compared to R$10.8 billion (US$2.7 billion) on September 30, 2018.
Suzano contracts debt in foreign currency as a natural hedge, since net operating cash generation is denominated in foreign currency. This structural exposure allows it to contract export financing in USD to match financing payments with receivable flows from sales.
Capital Markets
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| Currency | Dollar |
| Principal Amount | US$ 189,630,000 (original amount: US$ 650,000,000) |
| Issuance Date | September 16th, 2010 |
| Duration | 10 years |
| Coupon | 5.875% |
| Issuance Price | 6.125% |
| Maturity | January, 2021 |
| Coupon frequency | Semiannual |
| Currency | Dollar |
| Principal Amount | US$ 500,000,000 + US$ 200,000,000 (Re-Tap) |
| Issuance Date | July 14th, 2016 | September 05th, 2017 (Re-Tap) |
| Duration | 10 years |
| Coupon | 5.75% |
| Issuance Price | 5.875% | 4.625% (Re-Tap) |
| Maturity | July, 2026 |
| Coupon frequency | Semiannual |
Green Bonds Annual Report - 2017 - Green Bonds - Annual Report 2017
Green Bonds Annual Report - 2017 - Green Bonds - Annual Report 2018
Prospecto - Green Bonds - Use of Proceeds Report (2017)
Bonds 2018 - Green Bonds - Use of Proceeds Report (2018)
| Currency | Dollar |
| Principal Amount | US$ 300,000,000 + US$ 200,000,000 (Re-Tap) + US$ 500,000,000 (Re-Tap) |
| Issuance Date | March 16th, 2017 | September 05th, 2017 (Re-Tap) | November 06th, 2018 (Re-Tap) |
| Duration | 30 years |
| Coupon | 7.00% |
| Issuance Price | 7.375% | 6.300% (Re-Tap) | 6.850% (Re-Tap) |
| Maturity | March, 2047 |
| Coupon frequency | Semiannual |
| Currency | Dollar |
| Principal Amount | US$ 1,000,000,000 + US$ 750,000,000 (Re-Tap) |
| Issuance Date | September 17th, 2018 | January 29th (Re-Tap) |
| Duration | 10 years |
| Coupon | 6.00% |
| Issuance Price | 6.125% | 5,465 % (Re-Tap) |
| Maturity | January, 2029 |
| Coupon frequency | Semiannual |
| Currency | Real |
| Issuance Amount | R$ 675,000,000 |
| Issuance Date | June 29th, 2015 |
| Duration | 4 years |
| Remuneration | 101% CDI |
| Maturity | June 19th, 2019 |
| Interest Frequency | Semiannual |
| Rating | Aa2.br |
Prospecto - Prospect
| Currency | Real |
| Issuance Amount | R$ 600,000,000 |
| Issuance Date | April 13th, 2016 |
| Duration | 4 years |
| Remuneration | 98% CDI |
| Maturity | April 13th, 2020 |
| Interest Frequency | Semiannual |
| Rating | brAA |
Prospecto - Prospect
| Currency | Real |
| Issuance Amount | R$ 300,000,000.00 1st serie: R$ 200,000,000.00 2nd serie: R$ 100,000,000.00 |
| Issuance Date | June 28th, 2016 |
| Duration | 1st serie: 10 years 2nd serie: 9 years |
| Remuneration | 1st serie: 97% CDI 2nd serie: 97,5% CDI |
| Maturity | 1st serie: June 29th, 2026 2nd serie: June 30th, 2025 |
| Renegotiation | 1st serie: every 2 years 2nd serie: every 3 years |
| Interest Frequency | Semiannual |
| Currency | Real |
| Issuance Amount | R$ 1,000,000,000 |
| Issuance Date | November 25th, 2016 |
| Duration | 8 years |
| Remuneration | 96% CDI |
| Maturity | November 25th, 2024 |
| Renegotiation | In the 4th year |
| Interest Frequency | Semiannual |
Relatório Anual CRA Verde - 2017 - Green CRA - Annual Report 2017
Relatório Anual CRA Verde - 2017 - CRA Verde - Annual Report 2018
KPMG - Relatório de asseguração razoável dos auditores independentes - Green CRA - Use of Proceeds Report (2017)
CRA 2018 - Green CRA - Use of Proceeds Report (2018)