Shearman And Sterling

News January 11, 2022

Inaugural Social Bond Offering by Banco do Brasil

Shearman & Sterling advised Banco do Brasil, acting through its Grand Cayman Branch, in connection with the offering of an aggregate principal amount of US$500 million 4.875 percent social bonds due 2029 issued under its Euro Medium Term Note Program.

Banco do Brasil’s Sustainable Financing Framework aligns with the International Capital Markets Association’s 2021 Green Bond Principles, 2021 Social Bonds Principles and 2021 Sustainability Bonds Guidelines, among other principles. Banco do Brasil intends to allocate an amount equal to the net proceeds from the issuance of the social bonds to finance or refinance existing or future social projects, including affordable housing, SME finance and microfinance, socioeconomic advancement and empowerment and access to essential services.

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.

The Team