Banrisul Completes US$300 Million Subordinated Notes Offering
02.01.21
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Simpson Thacher represented Banco do Estado do Rio Grande do Sul S.A. (“Banrisul”) in connection with the offering of US$300 million aggregate principal amount of Subordinated Notes due 2031 (the “Notes”), pursuant to Rule 144A and Regulation S under the U.S. Securities Act of 1933, as amended. Banrisul expects to qualify the Notes as Tier 2 Capital subject to the approval of the Brazilian Central Bank. The Notes were listed on the Global Exchange Market of Euronext Dublin.
Banrisul ranks among the largest Brazilian banks by number of branches and total assets and has a significant market presence in the Brazilian State of Rio Grande do Sul, its controlling shareholder. In addition to providing banking and lending services to companies and individuals, Banrisul helps fund regional economic development and supports the agribusiness sector.
The Simpson Thacher team for the transaction included Grenfel S. Calheiros, Marcelo B. Lorenzen and Alexandre Portnoi (Capital Markets); and Jonathan Cantor and Abigail Hopper (Tax).