Banco BTG Pactual’s $485 Million Follow-On Primary Offering

Skadden represented Banco BTG Pactual S.A. in the offering, while Simpson Thacher represented the placement agents.

Banco BTG Pactual S.A. executed a US$485 million primary follow-on offering, comprising the sale of 27,777,778 units, each representing one common share and two class A preferred shares. The units were subject to a priority offering in Brazil addressed to existing shareholders, in accordance with Brazilian regulation.

Banco BTG Pactual is one of the main investment banks in Latin America. Banco BTG Pactual will use the proceeds from this offering for general corporate purposes to accelerate strategic initiatives and growth of its digital platform, keeping strong capital and liquidity metrics.

The Skadden team advising Banco BTG Pactual was led by Corporate partner Filipe Areno (Picrure), counsel Lauren Bennett and associate Karina Cardozo de Oliveira in São Paulo, also included Tax partner Victor Hollender (New York) and associate Joshua Lin (New York); Capital Markets partner Michael Hoffman (New York) and associate Prem Amarnani (New York); and Executive Compensation and Benefits counsel Jeffrey Lieberman (New York).

Simpson Thacher represented BTG Pactual US Capital, LLC, Bradesco Securities, Inc., Itau BBA USA Securities Inc., Morgan Stanley & Co. LLC and Santander Investment Securities Inc. as placement agents, with Grenfel S. Calheiros, Luiz Noronha and Raissa Fini (Capital Markets – São Paulo); and Jonathan E. Cantor and Kris Liu (Tax – New York).

Involved fees earner: Grenfel Calheiros – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Raissa Fini – Simpson Thacher & Bartlett; Kris Liu – Simpson Thacher & Bartlett; Luiz Noronha – Simpson Thacher & Bartlett; Prem Amarnani – Skadden Arps Slate Meager & Flom; Filipe Areno – Skadden Arps Slate Meager & Flom; Lauren Bennett – Skadden Arps Slate Meager & Flom; Karina Cardozo De Oliveira – Skadden Arps Slate Meager & Flom; Michael Hoffman – Skadden Arps Slate Meager & Flom; Victor Hollender – Skadden Arps Slate Meager & Flom; Jeffrey Lieberman – Skadden Arps Slate Meager & Flom; Joshua Lin – Skadden Arps Slate Meager & Flom;

Law Firms: Simpson Thacher & Bartlett; Skadden Arps Slate Meager & Flom;

Clients: Bradesco Securities; BTG Pactual; BTG Pactual US Capital, LLC; Itaú BBA USA Securities; Morgan Stanley; Santander Investment Securities Inc.;

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Author: Ambrogio Visconti.