Boa Vista SCPC’s 2.2 Billion Initial Public Offering

Mattos Filho Veiga Filho Marrey Jr., Simpson Thacher & Bartlett, Lefosse Advogados, Davis Polk & Wardwell, Pinheiro Guimarães, and Cescon, Barrieu, Flesch & Barreto Advogados advised on the deal.

Brazilian credit burau Boa Vista SCPC completed its initial public offering and raised BRL2.2 billion after pricing its shares at 12.2 reais each.

Boa Vista and its shareholders, which include private equity firm TMG Capital and São Paulo Commercial Association, sold share in the initial public offering, which was registered with the Brazilian Securities Commission (CVM) as a public offering and included restricted sales efforts outside Brazil under Rule 144A and Regulation S.

Boa Vista SCPC is experiencing a rapid expansion in credit score queries as a result of a change in the Brazilian legal framework in respect of mandatory credit scores to be made available in the market.

Banco JP Morgan S.A., Banco Morgan Stanley S.A. and Citigroup Global Markets Brasil CTVM S.A. acted as underwriters (and, through offshore investment banking units, as placement agents) in the offering.

Mattos Filho Veiga Filho Marrey Jr. acted as Brazilian counsel to Boa Vista Serviços S.A. with a team led by partner Jean Arakawa (Picture).

Simpson Thacher & Bartlett acted as US counsel to Boa Vista Serviços SCPC S.A. with a team led by partner Grenfel Calheiros, with Jaime Mercado, Luiz F. Noronha, Siddharth Fresa and Alexandre Portnoi (Capital Markets); and Jonathan Cantor and Abigail Hopper (Tax).

Lefosse Advogados acted as Brazilian counsel to the underwriters with a team led by partners Carlos Mello and Luiz Octavio Lopes.

Davis Polk & Wardwell acted as US counsel to the underwriters with a team led by partner Maurice Blanco and Elliot M. de Carvalho. The tax team included Patrick E. Sigmon and Sunny Kim.

Pinheiro Guimarães acted as counsel to São Paulo Commercial Association (ACSP) with a team led by partner Francisco José Pinheiro Guimarães and associates Carolina Ramalho, Fernando John Friedmann and Mariana Bastos.

Cescon, Barrieu, Flesch & Barreto Advogados acted as counsel to TMG Capital with a team led by partner Ronald Herscovici.

Involved fees earner: Ronald Herscovici – Cescon, Barrieu, Flesch & Barreto; Maurice Blanco – Davis Polk & Wardwell; Elliot de Carvalho – Davis Polk & Wardwell; Sunny Kim – Davis Polk & Wardwell; Patrick Sigmon – Davis Polk & Wardwell; Carlos Barbosa Mello – Lefosse; Luiz Octavio Lopes – Lefosse; Jean Marcel Arakawa – Mattos Filho Veiga Filho Marrey Jr & Quiroga; Mariana Jasmin Bastos – Pinheiro Guimarães; Carolina Cardoso Ramalho – Pinheiro Guimarães; Fernando John Friedmann Junior – Pinheiro Guimarães; Francisco José Pinheiro Guimarães – Pinheiro Guimarães; Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Siddharth Fresa – Simpson Thacher & Bartlett; Abigail Hopper – Simpson Thacher & Bartlett; Jaime Mercado – Simpson Thacher & Bartlett; Luiz Noronha – Simpson Thacher & Bartlett;

Law Firms: Cescon, Barrieu, Flesch & Barreto; Davis Polk & Wardwell; Lefosse; Mattos Filho Veiga Filho Marrey Jr & Quiroga; Pinheiro Guimarães; Simpson Thacher & Bartlett;

Clients: Boa Vista SCPC; Citigroup Global Markets Brasil, Corretora de Câmbio, Títulos e Valores Mobiliários S.A.; Commercial Association of Sao Paulo; JP Morgan; Morgan Stanley; TMG Capital;

Author: Ambrogio Visconti.