The Washington, DC office of Arnold & Porter LLP has helped the state of Santa Catarina, located in southern Brazil, obtain a US$726 million loan from the Bank of America guaranteed by the Brazilian government.

Milbank, Tweed, Hadley & McCloy LLP in New York and Brazil’s Machado, Meyer, Sendacz e Opice Advogados advised the Bank of America for the loan, which was agreed on 27 December. The Brazilian government was also counselled by Arnold & Porter.

The state will use the proceeds from the ten year financing, with an interest rate of 4 per cent, to repay internal debt owed to the Brazilian federal government carrying a double-digit interest rate.

Counsel to the Bank of America

Milbank, Tweed, Hadley & McCloy LLP

Partners Marcelo Mottesi, Jay Grushkin and Andrew Walker, and associates Matthew Squires, Rodrigo Carvalho and George Naya in New York

Machado, Meyer, Sendacz e Opice Advogados

Partners Nei Zelmanovits, José Virgílio and Adriano Schnur, and the associates Julia Coimbra, Lucas Sant′Anna and Marina Estrella Barros in São Paulo

(Latin Lawyer 17.01.2013)

(Notícia na Íntegra)