Brazil's Machado, Meyer, Sendacz e Opice Advogados has helped local valve manufacturer Lupatech sell US$180 million in bonds on the domestic market.
Lupatech used regular counsel Machado Meyer in the sale of the convertible bonds, almost 90 per cent of which were acquired by Brazil's state development bank, BNDES.
The bank used in-house counsel for the deal, which closed on 17 August. The bonds will convert into company shares when they mature.
Lupatech, which supplies valves and other equipment for the oil and gas industry, says the funds raised will be used to finance its expansion plans. The deal follows a US$75 million debt offering last year and a similar US$200 million bond issue in 2007 - undertaken to finance several acquisitions in Argentina.
Counsel to Lupatech
· Machado, Meyer, Sendacz e Opice Advogados
Partner Eliana Ambrósio Chimenti and associate Gustavo Secaf Rebello
Counsel to BNDES
· BNDES used in-house counsel
SP
(Latin Lawyer 24.08.2009)
(Notícia na Íntegra)
