All material subject to strictly enforced copyright laws. © 2021 Euromoney Institutional Investor PLC group
Emerging MarketsEM LatAm

Investors welcome 65bp step-up on Natura SLB

Natura, Avon, Body Shop, Aesop, make-up, cosmetics, LatAm, Brazil, beauty, 575

Brazilian cosmetics group Natura sold a sustainability-linked bond (SLB) on Monday offering an exceptionally high coupon step-up of 65bp if it does not meet sustainability targets. Though the greater increase was to compensate for the shorter time between the potential step-up and maturity than on most SLBs, it succeeded in grabbing the attention of EM bond buyers.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Take a Free Trial or Login
We use cookies to provide a personalized site experience.
By continuing to use & browse the site you agree to our Privacy Policy.
I agree