Milbank, Tweed, Hadley & McCloy LLP has represented Merrill Lynch, Pierce, Fenner & Smith Incorporated, Credit Suisse Securities (USA) LLC, BB Securities Limited and Santander Investment Securities Inc. in the $350 million inaugural bond offering of 8.625% Notes due 2021 by Eldorado Brasil Celulose. Eldorado is the third largest producer of market pulp in Brazil. The Milbank team was led by partners Marcelo Mottesi and Tobias Stirnberg, along with associate Fabiana Sakai and international attorney Tathyane Vosgerau.
Mr. Mottesi, head of Milbank’s Global Capital Markets practice and a member of the firm’s Latin America Group, said: “Milbank was pleased to assist the initial purchasers in the first high yield bond transaction of a first-time issuer from Brazil in a long time. The market for Brazilian high yield bonds had been closed for over a year, and this successful transaction may represent the reopening of this market for select issuers and industries.”
São Paulo-based partner Tobias Stirnberg adds: “We are very active in Brazil throughout the spectrum of corporate and project finance transactions as well as various debt restructurings. We recently represented Embraer in its US$1 billion SEC registered bond offering, and are currently representing GOL Airlines in its exchange offer for up to $870 million in senior unsecured bonds.”
