Shearman & Sterling Advises Banco do Brasil on its Sustainability Bond Offering

Shearman & Sterling 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 US$750 million aggregate principal amount of 6.000% Sustainability Bonds due 2031 issued under its Euro Medium Term Note Programme.

Banco do Brasil’s Sustainable Financing Framework aligns with the International Capital Markets Association’s 2021 Green Bond Principles (with its June 2022 appendix 1), the 2021 Sustainability Bonds Guidelines and the 2023 Social Bonds Principles, among other principles. The bank intends to allocate an amount equal to the net proceeds from the issuance of the Sustainability Bonds to finance or refinance existing or future environmental and social projects, initially with a focus on (i) renewable energy, and (ii) financing for micro, small and mid-size enterprises, particularly for the empowerment and socioeconomic advancement of women-led enterprises.

This transaction represents the continuation of the Firm’s long-standing relationship advising in connection with debt and equity securities offerings by Banco do Brasil and is a further example of the Firm’s leading position in advising on sustainable financing transactions across Latin America and the Caribbean.

The Team

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