Simpson Thacher Represents Initial Purchasers in US$500 Million Debt Offering for Braskem
06.11.08
This is only gets display when printing
The Firm represented ABN AMRO, Calyon and Citigroup, as initial purchasers, in a US$500 million debt offering for Braskem S.A., a Brazilian corporation. Braskem Finance Limited, a Cayman Islands finance subsidiary, issued 7.250% Notes due 2018, which were guaranteed by Braskem. The offering was conducted in reliance upon Rule 144A/Regulation S.
Braskem is the leading petrochemical company in Latin America and the third largest Brazilian-owned private sector industrial company.
Braskem used the net proceeds from the offering to pay down a portion of a bridge loan incurred to acquire petrochemical assets from the Ipiranga Group in April 2007.
The Simpson Thacher team for the transaction included Glenn M. Reiter, Kirsten L. Davis, Andrea Andrezo, Fernando Zorzo and Fernando Szterling, as well as Jonathan Cantor (Tax).