Shearman And Sterling

News April 17, 2014

Shearman & Sterling Advises BNDES on $1.5 Billion Notes Offering

Shearman & Sterling represented Banco Nacional de Desenvolvimento Econômico e Social (BNDES) in connection with its offering of $1 billion 4.000% Notes due 2019 and $500 million 5.750% Notes due 2023, listed on the Luxembourg Stock Exchange. The 5.750% Notes due 2023 are a further issuance of, and will be consolidated and form a single series with, the $1.25 billion principal amount of 5.750% Notes due 2023 originally issued by BNDES on September 26, 2013. BB Securities Ltd., Citigroup Global Markets Inc., HSBC Securities (USA) Inc., and Mitsubishi UFJ Securities (USA), Inc. acted as Joint Lead Managers.

BNDES is Brazil’s national bank for economic and social development and the primary domestic source of long-term financing in the Brazilian economy.

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