BNDES’ $1 Billion Green Bonds Offering

Cleary Gottlieb Steen & Hamilton, Shearman & Sterling and Pinheiro Neto have advised on the transaction

Banco Nacional de Desenvolvimento Econômico e Social (BNDES) completed a Rule 144A/Regulation S offering of US$1 billion 4.750% notes due 2024.

Banco Nacional de Desenvolvimento Econômico e Social (BNDES) is Brazil’s national bank for economic and social development. The UK law-governed notes are “Green Bonds,” with the proceeds allocated towards refinancing or financing various types of “Eligible Green Projects” undertaken by BNDES.

Cleary Gottlieb Steen & Hamilton LLP has advised Banco Nacional de Desenvolvimento Econômico e Social on the transaction with a team including Nicolas Grabar (Picture), Raj Panasar, Andrew Shutter, Richard Sultman, Carlos von der Heyde, Marc Rotter, Daniel Chor, Josiah Child, Sean Darling, Chloe Barrowman, Jennifer Maskell and Rafael Andrade.

Shearman & Sterling represented Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated acting as underwriters on the offering.

In Brazil, Pinheiro Neto has advised the underwriters with Ricardo S. Russo, Alexandre Rios and Cristina Liu.

The Shearman & Sterling team included partner Stuart Fleischmann (New York-Capital Markets); counsel Leona McManus (London-Finance); and associates Flavio Averbug (New York-Capital Markets), Filipe Lima (São Paulo-Capital Markets), Hillary Bailey (New York-Capital Markets), Mariana Pacini (New York-Corporate) and Elizabeth Stroud (London-Finance).

 

Involved fees earner: Ricardo Simões Russo – Pinheiro Neto; Alexandre Carvalho Pinto Rios – Pinheiro Neto; Stuart Fleischmann – Shearman & Sterling; Flavio Averbug – Shearman & Sterling; Filipe Lima – Shearman & Sterling; Hillary Bailey – Shearman & Sterling; Leona McManus – Shearman & Sterling; Elizabeth Stroud – Shearman & Sterling; Nicolás Grabar – Cleary Gottlieb Steen & Hamilton; Andrew Shutter – Cleary Gottlieb Steen & Hamilton; Carlos von der Heyde – Cleary Gottlieb Steen & Hamilton; Marc Rotter – Cleary Gottlieb Steen & Hamilton; Daniel Chor – Cleary Gottlieb Steen & Hamilton; Sean Darling – Cleary Gottlieb Steen & Hamilton; Rafael de Almeida Rosa Andrade – Cleary Gottlieb Steen & Hamilton; Raj Panasar – Cleary Gottlieb Steen & Hamilton; Andrew Shutter – Cleary Gottlieb Steen & Hamilton; Chloe Barrowman – Cleary Gottlieb Steen & Hamilton; Richard Sultman – Cleary Gottlieb Steen & Hamilton; Josiah Child – Cleary Gottlieb Steen & Hamilton; Jennifer Maskell – Cleary Gottlieb Steen & Hamilton;

Law Firms: Pinheiro Neto; Shearman & Sterling; Cleary Gottlieb Steen & Hamilton;

Clients: Credit Agricole; Merrill Lynch, Pierce, Fenner & Smith Incorporated; JP Morgan Securities; Banco Nacional de Desenvolvimento Econômico e Social;

 

Avatar

Author: Ambrogio Visconti