Shearman & Sterling represented Credit Agricole Securities (USA) Inc., J.P. Morgan Securities LLC and Merrill Lynch, Pierce, Fenner & Smith Incorporated (the “Managers”) in connection with the Rule 144A/Regulation S offering of US$1 billion 4.750% notes due 2024 issued by Banco Nacional de Desenvolvimento Econômico e Social (BNDES),  Brazil’s national bank for economic and social development.  The UK law-governed notes are “Green Bonds,” with the proceeds allocated towards refinancing or financing various types of  “Eligible Green Projects” undertaken by BNDES.

The Shearman & Sterling team included partner Stuart Fleischmann (New York-Capital Markets); counsel Leona McManus (London-Finance); and associates Flavio Averbug (New York-Capital Markets), Filipe Lima (São Paulo-Capital Markets), Hillary Bailey (New York-Capital Markets), Mariana Pacini (New York-Corporate) and Elizabeth Stroud (London-Finance).