Shearman & Sterling represented Banco Nacional de Desenvolvimento Econômico e Social (BNDES) in connection with its offering of $1,000,000,000 4.000% Notes due 2019 and $500,000,000 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 $1,250,000,000 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.
The Shearman & Sterling lawyers involved were partners Robert Ellison (São Paulo-Capital Markets), Stuart Fleischmann (New York-Capital Markets), and Ian Harvey-Samuel (London-Finance); counsel Carla Passos (New York/São Paulo-Capital Markets); and associates Tarik Gause (São Paulo-Capital Markets), David Shennan (London-Finance), Jeffrey Tate (Washington, DC-Tax) and Melissa Henkel (Washington, DC-Tax).