Tuesday, 13th July 2010 by Amy Stillman

Brazilian bank Banco Mercantil do Brasil is planning to raise around US$150 million through an overseas bond issue, with the help of Clifford Chance LLP and Vaz, Barreto, Shingaki & Oioli Advogados.

The offering is due to close on Friday, with the 10-year bonds placed at 9.75 per cent.

Bank of America Merrill Lynch and Santander are acting as underwriters to deal, seeking advice from White & Case LLP and Machado, Meyer, Sendacz e Opice Advogados.

′Mercantil has a solid business and I am not surprised to see them hitting the market ahead of other mid-sized banks after recent turmoil,′ says Clifford Chance partner Isabel Carvalho. ′The most challenging issues relate to market conditions and we needed to be ready and available to turn around documentation in no time so that they could tap the market quickly.′

The proceeds will be used to expand the bank′s credit portfolio for corporate clients and other general corporate purposes.

Counsel to Mercantil do Brasil

International

·         Clifford Chance LLP

Partners Isabel Carvalho and Jon Zonis, and associates Anja Pfleger, Konstantinos Papadopoulos and Rafael Gaspar

 

Brazil

·         Vaz, Barreto, Shingaki & Oioli Advogados

Partner José Barreto Netto and associates Erik Frederico Oioli, José Alves Ribeiro Júnior and Renata Bozola

Counsel to underwriters

·         In-house counsel to Bank of America Merrill Lynch – Nancy Kennan and Shawn Benson

·         In-house counsel to Santander - Mercedes Pacheco

International

·         White & Case LLP

Partners Don Baker and Dan Nam, and associate John Guzman

Brazil

·         Machado, Meyer, Sendacz e Opice Advogados

 

Partner Nei Schilling Zelmanovits and associates Karina Momosi and André Politi Esposito Gomes

 

(Latin Lawyer 13.07.2010)

(Notícia na Íntegra)