Lupatech, a Brazilian manufacturer of technology and parts used in oil and gas exploration, has issued perpetual bonds to the value of US$75 million.
Issued at the end of last month, the offering follows Lupatech’s US$200 million offering last year, covered by LATINLAWYER.
Eliana Chimenti, a partner with Machado, Meyer, Sendacz e Opice Advogados who represented Lupatech, says “the offering was successful even in a turbulent market when many offerings were cancelled or postponed - showing the confidence of investors in the company.”
Lupatech specializing specialises in metal alloy parts and high-corrosion-resistant alloys for industrial valves and pumps.
The company has used some of the proceeds of the 2007 offering to expand its holdings in Argentina, acquiring a set of distribution companies in November and a gas vehicular compression system manufacturer in May this year.
Merrill Lynch acted as underwriter to the offering.
Counsel to Lupatech
•    Machado, Meyer, Sendacz e Opice Advogados
Partner Eliana Ambrósio Chimenti and associates Alessandra de Souza Pinto and Gustavo Secaf Rebello
•    Shearman & Sterling LLP
Partner Richard Aldrich and associate Jonathan Kellner
Counsel to Merrill Lynch
•    Pinheiro Guimarães - Advogados
Partner Paula Beatriz Carneiro Pessoa and associate Gabriela Machado
•    Clifford Chance LLP
Partner Sara Hanks and associate Jonathan Manders
(Latin Lawyer 24.07.2008)