Clifford Chance LLP has assisted Brazilian development bank Banco Nordeste do Brasil in a US$300 million bond issuance that closed on 9 November.
Shearman & Sterling LLP represented the initial purchasers, Deutsche Bank Securities, HSBC Securities, UBS Securities LLC, Banco Espirito Santo de Investimento and Banco Votorantim.
Machado, Meyer, Sendacz e Opice Advogados acted as special counsel, representing both Nordeste and the initial purchasers.
This was Nordeste′s first bond transaction since 1997, which added to the challenges of the deal according to Isabel Carvalho, partner in Clifford Chance′s São Paulo office. "They [Nordeste] have a wonderful team who put a lot of effort in to launch a fairly large 144A securities deal," she says. I would add that the underwriters did a great job too, as the price was amongst the lowest in Latin America. The issuance was well received and delivered on a tight timetable, which was important considering recent market volatility."
Counsel to Banco Nordeste do Brasil
US
· Clifford Chance LLP
Partners Jon Zonis and Isabel Carvalho, and associates Patrick Jackson, Gustavo Rugani, Carolina Barbeiro and Juliana Dias
Counsel to Deutsche Bank Securities, HSBC Securities, UBS Securities LLC, Banco Espirito Santo de Investimento and Banco Votorantim
US
· Shearman & Sterling LLP
Partners Stuart Fleischmann and Robert Ellison, and associate Pedro Amaral
Counsel to Banco Nordeste do Brasil and Deutsche Bank Securities, HSBC Securities, UBS Securities LLC, Banco Espirito Santo de Investimento and Banco Votorantim
Brazil
· Machado, Meyer, Sendacz e Opice Advogados
Partner Eduardo Avila de Castro and associates Karina Tiaki Momose, André Politi Esposito Gomes and Fernanda Cristina Savino
(Latin Lawyer 22.11.2010)
(Notícia na Íntegra)
