GS Finance II Limited’s $90 Million Cash Tender Offer

Simpson Thacher represented Itau BBA USA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as dealer managers, in connection with a cash tender offer by GS Finance II Limited, a wholly owned finance subsidiary of General Shopping e Outlets do Brasil S.A. (“General Shopping”), to purchase for cash up to US$90 million in aggregate principal amount of its outstanding 10% Perpetual Notes.

The tender offer expired on August 7, 2018. General Shopping is a leader in the shopping center industry in Brazil. It owns or operates 15 shopping centers that are strategically located with 1,802 stores and over 348 thousand square meters of gross leasable area.

The Simpson Thacher team for the transaction included Grenfel S. Calheiros (Picture), Paulo F. Cardoso and Marcelo B. Lorenzen (Capital Markets); and Jonathan Cantor and Sarah J. Duffy (Tax).

Involved fees earner: Grenfel Calheiros – Simpson Thacher & Bartlett; Marcelo Lorenzen – Simpson Thacher & Bartlett; Jonathan Cantor – Simpson Thacher & Bartlett; Sarah Julian Duffy – Simpson Thacher & Bartlett;

Law Firms: Simpson Thacher & Bartlett;

Clients: Merrill Lynch, Pierce, Fenner & Smith Incorporated; Itaú BBA USA Securities;

Author: Ambrogio Visconti.