Latin America′s largest owner of shopping centres, BR Malls Participações, has issued US$230 million in perpetual notes with the assistance of Brazil′s Machado, Meyer, Sendacz e Opice Advogados, Davis Polk & Wardwell in the US and Cayman-based firm Maples and Calder.

The notes were issued on 13 January, with Pinheiro Guimarães – Advogados in Brazil and US firm Skadden, Arps, Slate, Meagher & Flom LLP advising the initial purchasers, BTG Pactual, US Capital Corporation and Deutsche Bank Securities.

The notes are guaranteed by BR Malls and subsidiaries Ecisa Participações, Ecisa Engenharia Comércio e Indústria and Proffito Holding Participações.

"The deal closed successfully, with strong demand from international investors, allowing the company to reset its financial structure in a timely and effective way," says Marcela Taquette Vaz, associate at Pinheiro Guimarães, which worked on a previous issuance of senior perpetual bonds by BR Malls.

The Brazilian company has a long list of preferred firms; it retained Gustavo Padilha Advogados Associados when investing in the Tijuca shopping complex last November, but turned to Machado Meyer for a US$430 million share offering in 2009.

Barbosa Müssnich & Aragão was retained for its IPO in 2007.

Counsel to BR Malls

Brazil

·         Machado, Meyer, Sendacz e Opice Advogados

US

·         Davis Polk & Wardwell

Partners Manuel Garciadiaz, John Paton and Michael Farber, counsel Erin Cho, associates Michelle Messer Catherine Martin, Ann Becchina and Irina Boulyjenkova, and foreign temporary associate Artur Fernandes Andrezo

Cayman Islands

·         Maples and Calder

Partner Kieran Walsh and associate Michael Johns

Counsel to the initial purchasers

Brazil

·         Pinheiro Guimarães - Advogados

Partners Plinio Pinheiro Guimarães, Beatriz Fortuna and Roberta Pimentel and associate Marcela Taquette Vaz

US

Skadden, Arps, Slate, Meagher & Flom LLP

Partners Richard Aldrich, Paul Schnell, Eric Sensenbrenner, Michael Lawson and Phil Harris, and associates Filipe Areno, Augusto Lima and Darkson Galvao.

(Latin Lawyer 03.02.2011)

(Notícia na Íntegra)