Braskem Completes Cash Tender Offers
07.06.21
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Simpson Thacher represented Braskem S.A. (“Braskem”) and its indirect finance subsidiaries, Braskem Netherlands Finance B.V. (“Braskem Netherlands”) and Braskem America Finance Company (“Braskem America”), in connection with abbreviated cash tender offers for any and all of the outstanding: (i) 3.5% Notes due 2023 issued by Braskem Netherlands and guaranteed by Braskem; and (ii) 7.125% Notes due 2041 issued by Braskem America and guaranteed by Braskem.
Braskem is the largest producer of thermoplastic resins in the Americas, with 29 plants in Brazil, six plants in the United States, two plants in Germany and four plants in Mexico. Braskem is the only producer of ethylene, polyethylene and polypropylene in Brazil and offers a diversified portfolio of petrochemical and thermoplastic products, including polyethylene, green polyethylene, polypropylene and polyvinyl chloride (PVC).
The Simpson Thacher team for the transaction included Grenfel S. Calheiros, Kirsten L. Davis and Marcelo B. Lorenzen (Capital Markets); and Jonathan Cantor and Zachary Fialkow (Tax).