News & Events

Simpson Thacher recently represented Credit Suisse Securities (USA) LLC, Goldman, Sachs & Co. and Citigroup Global Markets Inc., as placement agents, and BMO Nesbitt Burns Inc., Jefferies & Company, Inc., Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC, as co-managers, in connection with the initial public offering of 1,944,000 common shares of HRT Participações em Petróleo S.A. 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$2.3 billion (approximately US$1.4 billion) in proceeds. The offering may be increased by up to US$292.0 million if the over-allotment option is exercised. 

HRT Participações em Petróleo S.A. is an independent Brazilian oil and natural gas exploration and production company with over two billion barrels of oil equivalent (BOE) of prospective and contingent resources in exploration blocks in onshore basins in Brazil and offshore basins in Namibia. HRT expects to use the proceeds from the offering for its exploration and infrastructure programs in the Solimões basin in Brazil and in offshore basins in Namibia.

The Simpson Thacher team for this transaction included S. Todd Crider, Thiago Spercel and William A. Langer (Capital Markets); Jonathan Cantor and Danny Salinas (Tax); Craig Katerberg and Alvin Brown (Executive Compensation and Employee Benefits); and Lisa Wallis, Matt Nestler and Nicole Annunziato (paralegals).