FOR IMMEDIATE RELEASE
Firm advises issuers and financial institutions in debt offerings by major Brazilian mining, airline and cement companies
NEW YORK, October 13, 2014 – Continuing its strong showing in Latin America this year, Milbank, Tweed, Hadley & McCloy’s capital markets practice closed three Brazilian bond offerings within 10 days in late September and early October with a total value of US$860 million.
Details on the three transactions:
- Milbank represented Samarco Mineração S.A., a leading Brazilian mining company that produces and sells iron ore pellets, in its US$500 million note offering. Milbank attorneys included Global Securities partner Andrew Jánszky with assistance from New York-based associate Muhseen Abdoolraman and international attorney Concy Gonçalves in São Paulo. The transaction closed on September 26.
- Milbank represented Gol LuxCo S.A., subsidiary of longtime client GOL Linhas Aéreas Inteligentes S.A., in its US$325 million senior notes offering including a three-series tender offer for US$225 million. The transaction is part of Gol’s ongoing process of extending the average maturities of its U.S. dollar denominated debt. Milbank attorneys included Global Securities partners Andrew Jánszky and Tobias Stirnberg with assistance from associates Felipe Camara in São Paulo and Rodrigo Carvalho in New York. The transaction closed on September 24.
- Milbank represented the initial purchasers Bank of America Merrill Lynch and Credit Suisse in the reopening of senior unsecured notes by Cimento Tupi, a leading producer and distributor of cement in Brazil. The total outstanding amount of 9.75% Senior Unsecured Notes due 2018 after the closing of the transaction is US$185 million. Milbank attorneys included Global Securities partners Marcelo Mottesi and Tobias Stirnberg with assistance from associate Fabiana Sakai and international attorney Concy Gonçalves. The transaction closed on October 2.
“Despite the relative slowdown of the Brazilian economy this year, there are plenty of strong performers in a number of sectors and investors continue to show their interest in acquiring securities of these firms,” Mr. Mottesi said. “We’re pleased to have played a key role advising the issuers and initial purchasers in these transactions, on behalf of three stand-out brands in Brazil’s mining, airline and construction industries.”
Added Mr. Jánszky, managing partner of Milbank’s Sao Paulo office, “Brazil remains one of the mainstays of our Latin American practice. The part we played working with both the issuers and underwriters in these three offerings reflects Milbank’s prominence as a go-to adviser for leading Brazilian businesses and global financial institutions in handling the most important capital markets deals originating in the country.”
About Milbank
Milbank, Tweed, Hadley & McCloy is a leading international law firm that has been providing innovative legal solutions to clients throughout the world for more than 145 years. Milbank is headquartered in New York and has offices in Beijing, Frankfurt, Hong Kong, London, Los Angeles, Munich, São Paulo, Singapore, Tokyo and Washington, DC.
The firm’s lawyers provide a full range of legal services to the world’s leading commercial, financial and industrial enterprises, as well as to institutions, individuals and governments. Milbank’s lawyers meet the needs of its clients by offering a highly integrated and collaborative range of services across key practice groups throughout its global network. Milbank’s integrated practice is underpinned by its attorneys’ acknowledged technical excellence, sectorial expertise and a strong tradition of innovation and client service.
