The Firm represented Banco Bradesco S.A. – Grand Caymans Branch, BB Securities Limited, HSBC Securities (USA) Inc. and Santander Investment Securities Inc., as initial purchasers, in a US$400 million debt offering for Braskem S.A., a Brazilian corporation. Braskem Finance Limited, a Cayman Islands finance subsidiary, issued 7.00% Notes due 2020, which were guaranteed by Braskem. The offering was conducted in reliance upon Rule 144A and Regulation S.
Braskem is the leading petrochemical company in Latin America and the third largest Brazilian-owned private sector industrial company.
Braskem is using the net proceeds from the offering principally to pay down indebtedness of Quattor Participações S.A. and its subsidiaries, a Brazilian petrochemical group acquired by Braskem in April 2010.
The Simpson Thacher team for the transaction included, among others, Glenn M. Reiter, Kirsten L. Davis, Fernando Szterling and Sasha Willimann (Capital Markets), as well as Jonathan Cantor and Amie Broder (Tax).