Simpson Thacher represented Braskem Netherlands Finance B.V. (the “Issuer”) and Braskem S.A. (“Braskem”) in connection with the issue and sale of US$850,000,000 aggregate principal amount of the Issuer’s 8.500% Senior Notes due 2031 (the “Notes”). Citigroup Global Markets Inc., Credit Agricole Securities (USA) Inc., Itau BBA USA Securities, Inc., Morgan Stanley & Co. LLC, Santander US Capital Markets LLC, SMBC Nikko Securities America, Inc., ING Financial Markets LLC and Mizuho Securities USA LLC acted as initial purchasers for this offering. The Notes are guaranteed by Braskem, the Issuer’s parent company.
The Notes were offered to qualified institutional buyers in the United States under Rule 144A and to non-U.S. persons in reliance on Regulation S. Braskem intends to use the net proceeds from this offering for general corporate purposes, which may include the repayment of certain outstanding debt.
Braskem is the largest producer of plastics in the Americas and the global leader in green polyethylene based on the annual production capacity of its plants in Brazil, the United States, Germany, and Mexico in 2022, the only integrated petrochemical company producing basic chemicals and polymers in Brazil, and the largest producer based on annual production capacity of polyethylene in Mexico and of polypropylene in the United States and Germany, serving customers in more than 70 countries.
The Simpson Thacher team for the transaction included Grenfel S. Calheiros, Marcelo B. Lorenzen and João F. Rocha (Capital Markets); and Jonathan Cantor and Adam Hersch (Tax).