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A&O Shearman guides Banco do Brasil in connection with the issuance of first Brazilian nature bond

A&O Shearman guides Banco do Brasil in connection with the issuance of first Brazilian nature bond
Published Date
May 5 2026
Related people
Image of Roberta Cherman
Roberta ChermanPartner, São Paulo
Image of Tom Grant
Tom GrantPartner, London
Image of Thomas Donegan
Thomas DoneganPartner, London
Image of Imane Rhammaz
Imane RhammazAssociate, London
Image of Lorenz Haselberger
Lorenz HaselbergerPartner, New York
Image of Daniel Kachmar
Daniel KachmarAssociate, Washington DC
Image of Thomas Majewski
Thomas MajewskiCounsel, New York
Image of Stephanie (Tianyu) Li
Stephanie (Tianyu) LiAssociate, Washington DC
Image of John Cannon
John CannonPartner, New York
A&O Shearman represented Banco do Brasil S.A., acting through its Grand Cayman Branch, in connection with the update of its Euro Medium Term Note Programme and the offering of USD500 million aggregate principal amount of 5.625% Nature Bonds due 2031. 
Banco do Brasil’s Sustainable Financing Framework aligns with the International Capital Markets Association’s 2025 Green Bond Principles, the 2025 Social Bond Principles, and the 2021 Sustainability Bonds Guidelines, among other principles. The bank intends to allocate the net proceeds from the issuance of the Sustainability Bonds to finance or refinance eligible green projects, including those in connection with low carbon agriculture, sustainable irrigation systems, and forestry.

“This transaction builds on our long-standing advisory relationship with Banco do Brasil across debt and equity capital markets. It’s also a further example of A&O Shearman’s leading position in advising on sustainable finance throughout Latin America and the Caribbean.”

The A&O Shearman team was led by São Paulo-based partner Roberta B. Cherman, and included attorney Gabriela Laufer and visiting attorney Mariana Lobato. Partners Tom Grant and Thomas Donegan and associate Imane Rhammaz provided English law advice, and partner Lorenz Haselberger and associate Daniel Kachmar provided tax advice. Other members of the team included Tom Majewski, Stephanie Li, and John Cannon. 

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