The Firm represented Itau BBA USA Securities, Inc., Banco BTG Pactual S.A. — Cayman Branch, Citigroup Global Markets Inc., HSBC Securities (USA) Inc., Morgan Stanley & Co. LLC, Santander US Capital Markets LLC, Scotia Capital (USA) Inc. and SMBC Nikko Securities America, Inc., as initial purchasers, in connection with the offering of US$700 million in aggregate principal amount of 6.750% Senior Unsecured Notes due 2030 by PRIO Luxembourg Holding S.à r.l., a wholly owned subsidiary of PRIO S.A. (“PRIO”) in reliance upon Rule 144A and Regulation S.
The Firm is also represented the same institutions as dealer managers, in connection with an any-and-all concurrent tender offer for PRIO’s outstanding 6.125% senior secured notes due 2026.
PRIO used the proceeds from the notes offering to fund the repurchase of notes pursuant the concurrent tender offer, and any remaining net proceeds will be used for general corporate purposes, including to pay part of the purchase price relating to the Equinor Peregrino Field Acquisition.
PRIO is one of the main oil and gas companies operating currently in Brazil and the leading company among non-government owned oil and gas companies in Brazil based on production volume of oil and gas products, with a focus on operating and developing producing assets and a core portfolio consisting of four operating fields, located in the Campos Basin.
The Simpson Thacher team included Grenfel S. Calheiros, Paulo F. Cardoso, Sid Fresa and Doug Ogata (Capital Markets); and Jonathan Cantor (Tax).