SÃO PAULO, September 25, 2015 — In the first equity private placement out of Brazil under new local rules, Milbank, Tweed, Hadley & McCloy LLP represented Itaú BBA, Bradesco BBI and BofA Merrill Lynch, as placement agents in the R$400 million (approximately $100 million) follow-on by Valid Soluções e Serviços de Segurança em Meios de Pagamento e Identificação S.A.
Founded in 1957 and based in Rio de Janeiro, Valid provides security printing services to financial institutions, telecommunication companies, state governments, and public agencies primarily in Brazil, the United Sates, Spain and Argentina.
São Paulo Global Securities partner Tobias Stirnberg led the deal team with assistance from Tax partner Andrew Walker and associates Felipe Camara and Michael Goon.
