Simpson Thacher represented Braskem Netherlands Finance B.V. (the “Issuer”) and Braskem S.A. (“Braskem”) in connection with the issue and sale of US$1,000,000,000 aggregate principal amount of the Issuer’s 7.25% Senior Notes due 2033 (the “Notes”). BNP Paribas Securities Corp., Citigroup Global Markets Inc., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Santander US Capital Markets LLC, SMBC Nikko Securities America, Inc., Credit Agricole Securities (USA) Inc., Mizuho Securities USA LLC, Standard Chartered Bank AG, ING Financial Markets LLC and Natixis Securities Americas LLC acted as initial purchasers for this offering. The Notes are guaranteed by Braskem, the Issuer’s parent.
The Notes were offered to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in reliance on Regulation S. Braskem intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of certain outstanding debt, including without limitation outstanding bonds. Braskem, a company with operations and offices in the Americas and Europe and offices in Asia serving clients in more than 70 countries, is a global leader in plastics and chemical production and, in 2021, was the largest plastics producer in the Americas (polyethylene, polypropylene and PVC, according to IHS).
The Simpson Thacher team for the transaction was led by partner Grenfel S. Calheiros (Capital Markets – São Paulo) and senior counsel Kirsten L. Davis (Capital Markets – New York) and also included associates Raissa Fini and João Felipe Rocha (Capital Markets – São Paulo), as well as partner Jonathan Cantor and associate Adam Hersch (Tax – New York).