Machado, Meyer, Sendacz e Opice Advogados and Shearman & Sterling LLP have teamed up to advise the underwriters on a US$1 billion debt issuance by Brazil's development bank, BNDES.
Clifford Chance LLP represented the issuer on international law matters from São Paulo. The bank all but always uses its large in-house team for local advice, this time led by Luciana Tito.
Stuart Fleischmann, who ran the three-jurisdiction Shearman team from New York, said: "BNDES is one of Brazil's premier companies, and we are hopeful that their issuance will be part of renewed activity in the international capital markets for Brazilian issuers."
The offering of US$1 billion in 10-year notes, paying a coupon of 6.5 per cent, closed on 10 June. The underwriters were Goldman Sachs and HSBC Securities.
The wholly-state owned development bank has upped its lending this year by US$20 billion, largely to offset the falloff in international private financing as a result of the financial crisis.
Counsel to Goldman Sachs and HSBC
Brazil
• Machado, Meyer, Sendacz e Opice Advogados
Partners Nei Schilling Zelmanovits and Fernando Tonanni and associates Thais de Gobbi and Bruna Marrara Martinez
US
• Shearman & Sterling LLP
Partners Stuart Fleischmann in New York with Robert Ellison in São Paulo and Ian Harvey-Samuel in London
Counsel to BNDES
In-house counsel - Luciana Tito
US
• Clifford Chance LLP
Partner Anthony Oldfield and associates Renata Simon, Maya Mehta and Simi Arora, all in São Paulo
(Latin Lawyer 16.06.2009)
(Notícia na Íntegra)
