Brazilian Pulp Producer Rides Growing Wave of Green Investing
- Demand growing faster than supply, Citigroup’s Gilfond says
- Rapid growth has raised concerns over risk of ‘greenwashing’
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Klabin SA just scored its cheapest bond sale in the pulp and paper producer’s recent history as environmentally-friendly investments take off in Brazil, a country more famous for burning down the Amazon than sustainable forestry.
The 10-year $500 million sustainability-linked bond with a 3.2% coupon was 10 times oversubscribed, according to Marcos Maciel Marques da Costa, head of investor relations at the Sao Paulo-based company.