Simpson Thacher Represents Initial Purchasers in US$450 Million Perpetual Bond Offering for Braskem
10.06.10
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The Firm represented Deutsche Bank Securities Inc., HSBC Securities (USA) Inc. and Banco Itaú Europa S.A. – London Branch, as initial purchasers, in a US$450 million perpetual bond offering for Braskem S.A., a Brazilian corporation. Braskem Finance Limited, a Cayman Islands finance subsidiary, issued 7.375% Perpetual Bonds, which were guaranteed by Braskem. The offering was conducted in reliance upon Rule 144A and Regulation S.
Braskem is using the net proceeds from the offering principally to redeem two outstanding series of perpetual bonds that had been issued and sold by Braskem in 2005 and 2006.
Braskem is the leading petrochemical company in Latin America and the third largest Brazilian-owned private sector industrial company.
The Simpson Thacher team for the transaction included, among others, Glenn M. Reiter, Kirsten L. Davis, Till Lefranc and Sasha Willimann (Capital Markets and Securities), as well as Jonathan Cantor and Amie Broder (Tax).