THE WHAT? Natura & Co has announced that it has commenced two tender offers for up to US$550,000,000 of its outstanding sustainability-linked notes, due 2028 and up to US$330,000,000 of its remaining 6 percent senior notes, due 2029.  

THE DETAILS The Brazilian owner of Avon is conducting two independent consent solicitations simultaneously, which amend certain defined terms. Holders who wish to tender their notes in the applicable tender offer will need to consent to these terms.

THE WHY? It appears to be financing season with several beauty firms announcing offers in the past few weeks.