Simpson Thacher recently represented Credit Suisse Securities (USA) LLC, Bradesco Securities, Inc., Goldman, Sachs & Co., Itaú USA Securities, Inc., and Santander Investment Securities Inc., as placement agents, and HSBC Securities (USA) Inc. and Safra Securities Corporation, as co-managers, in connection with the follow-on offering of 47,300,000 common shares of Cyrela Brazil Realty S.A. Empreendimentos e Participações. The common shares were offered to the public in Brazil, to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons under Regulation S. The transaction raised R$1.041 billion (approximately US$595.1 million) in proceeds.
Cyrela Brazil Realty S.A. Empreendimentos e Participações is the largest residential real estate developer and the third largest general builder in the Americas, in terms of market capitalization. They operate in 55 cities throughout Brazil.
The Simpson Thacher team for this transaction included S. Todd Crider, Gustavo Benchimol, Fernando Szterling, William A. Langer, and Paula Redondo Pereira (Capital Markets); Jennifer P. Klein (Tax); and Elizabeth Martinez, Christina Mauricio and André Gregori (paralegals).