Simpson Thacher Represents Unigel in Debt Restructuring
08.30.17
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The Firm recently represented Unigel Participações S.A. and its affiliates in connection with a restructuring of R$2,004.1 million (approximately US$646.6 million) principal amount of loans outstanding to lenders including Banco Bradesco, Banco Indusval, Banco do Brasil, Itaú Unibanco and Banco Santander (Brasil). The restructuring involved a reallocation of collateral among Unigel’s lenders and an extension of the maturity of Unigel’s existing bank debt.
Unigel is the leading acrylics and styrenics company in Latin America, in terms of production capacity, producing a diversified portfolio of chemical, petrochemical and plastics products, fertilizers and packaging materials at its 12 production facilities and seven distribution centers in Brazil and Mexico.
The Simpson Thacher team for the transaction included Jaime Mercado, Soogy Lee, Tosca Augustin and M. Shin (Corporate); and Morgan Otway (Tax).