The Firm represented Itau BBA USA Securities, Inc., BTG Pactual US Capital, LLC, Bradesco Securities, Inc., Safra Securities LLC and XP Investments US, LLC as placement agents in connection with a B3 follow-on equity offering by Banco Pine S.A. (“Pine”) of 21,860,095 preferred shares. The offering raised approximately R$245,9 million in gross proceeds.
The preferred shares were offered to certain qualified institutional buyers under Rule 144A in the United States and to non-U.S. persons outside the United States in reliance upon Regulation S, simultaneously to a registered offering to professional investors in Brazil. Pine preferred shares are currently traded on the B3 stock exchange under the symbol “PINE4”.
Pine concentrates its business on providing credit in Brazil to medium-sized companies (corporate and middle market), with a growing focus on diversifying its portfolio through collateralized retail loans (payroll loans).
The Simpson Thacher team included Paulo F. Cardoso, Grenfel S. Calheiros, Raissa Fini, Taisa Sani and Aline Farias (Capital Markets).