By Brazil Stock Guide – Suzano S.A. (B3: SUZB3 | NYSE: SUZ) has priced a new Panda bond offering in China’s onshore market through its wholly owned subsidiary Suzano International Finance B.V., strengthening its long-term funding base in Asia. The dual-tranche deal totals RMB 1.4 billion (US$196 million) and follows the registration of the company’s Panda Bond program with the National Association of Financial Market Institutional Investors (NAFMII) earlier this year.
The issuance includes RMB 1.3 billion maturing in October 2028 with a 2.55% annual coupon, and RMB 100 million maturing in October 2030 with a 2.9% coupon. Both tranches pay interest annually and carry a full guarantee from Suzano. After currency swaps, the indicative dollar yields are 4.13% and 4.55%, respectively. Settlement is scheduled for October 21, 2025.
Suzano said the proceeds will be allocated for general corporate purposes outside China. The company highlighted that the bonds are not registered with the CVM or the U.S. SEC, and may only be offered privately to qualified investors under local rules.
The transaction reinforces China’s role as a key funding alternative for global issuers seeking yuan liquidity, while advancing Suzano’s strategy to diversify financing sources and align with its largest export market. The company’s repeated access to the Chinese interbank market signals a deepening financial relationship between Latin America’s leading paper producer and Asia’s dominant demand center.
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