Rio Oil Finance Trust’s $600 Million Notes Offering


Hogan Lovells advised initial purchasers BB Securities and BNP Paribas in the structuring, distribution and issuance of US$600 million in 144A/Regulation S notes issued by Rio Oil Finance Trust, an SPV created for purposes of issuing notes backed by oil royalties allocable to the State of Rio de Janeiro. The offerings are designed to assist the State of Rio de Janeiro and its pension fund RioPrevidência to monetize their future entitlements to national oil royalties.

The Hogan Lovells team was led by New York-based partner Emil Arca (Picture), counsels Russell Slanover and David Contreiras Tyler, former senior associate Patricia Ciccone, and international visiting lawyer Renato Villaca Di Dio.

Involved fees earner: Emil Arca – Hogan Lovells; Russell Slanover – Hogan Lovells; David Contreiras Tyler – Hogan Lovells; Patricia Ciccone – Hogan Lovells; Renato Villaca Di Dio – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: BNP Paribas; BB Securities Ltd;

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Author: Ambrogio Visconti