Brazil’s $2.25 Billion Bond Offering

Cleary Gottlieb represented the Federative Republic of Brazil in the offering.

Brazil executed an SEC-registered offering of $1.5 billion of 3.750% global bonds due 2031 and $750 million of 4.750% global bonds due 2050. The offering of the global bonds due 2050 was a reopening of bonds issued in November 2019 and December 2020.

Brasdesco BBI, Goldman Sachs and HSBC acted as joint lead managers for the offering. The offering priced on June 29, 2021, and closed on July 7, 2021.  The global notes were registered with the SEC under Brazil’s registration statement on Schedule B and were listed on the Luxembourg Stock Exchange.  

The Cleary securities team consisted of partners Nick Grabar (Picture) and Juan Giráldez, associates Rita Sobral, Silvia Fittipaldi and Eric Finkelberg, and international lawyer Caroline Ogata. Associates Victoria Ju and Andrew Wasilick advised on U.S. tax matters.

Involved fees earner: Eric Finkelberg – Cleary Gottlieb Steen & Hamilton; Silvia Fittipaldi – Cleary Gottlieb Steen & Hamilton; Juan Giráldez – Cleary Gottlieb Steen & Hamilton; Nicolás Grabar – Cleary Gottlieb Steen & Hamilton; Victoria Ju – Cleary Gottlieb Steen & Hamilton; Caroline Ogata – Cleary Gottlieb Steen & Hamilton; Rita Sobral – Cleary Gottlieb Steen & Hamilton; Andrew Wasilick – Cleary Gottlieb Steen & Hamilton;

Law Firms: Cleary Gottlieb Steen & Hamilton;

Clients: Federal government of Brazil;

Author: Martina Bellini