Banco do Brasil’s $500 Million Social Bond Offering

Shearman & Sterling advised Banco do Brasil on the offering.

Banco do Brasil, acting through its Grand Cayman Branch, executed 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.

The Shearman & Sterling team included Roberta B. Cherman (Picture), Jonathan A. Lewis, Marina Mendes Correa, Gabriela Laufer, James Duncan, Woo Suk Hong, Thomas Donegan, Larry Crouch, Lorenz Haselberger, Daniel Kachmar, Simon Letherman, and Eunjee Chae.

Involved fees earner: Roberta Berliner Cherman – Shearman & Sterling; Eunjee Chae – Shearman & Sterling; Larry Crouch – Shearman & Sterling; Thomas Donegan – Shearman & Sterling; James Duncan – Shearman & Sterling; Lorenz Haselberger – Shearman & Sterling; Daniel Kachmar – Shearman & Sterling; Gabriela Laufer – Shearman & Sterling; Simon Letherman – Shearman & Sterling; Jonathan Lewis – Shearman & Sterling; Marina Mendes Correa – Shearman & Sterling; Woo Suk Hong – Shearman & Sterling;

Law Firms: Shearman & Sterling;

Clients: Banco do Brasil;