The Firm recently represented the initial purchasers, led by J.P. Morgan, in a sale of $700 million of 8.250% Senior Notes due 2020 of JBS USA, LLC, a Delaware corporation, pursuant to Rule 144A and Regulation S.

Davis Polk advised BB Securities Ltd., BNP Paribas Securities Corp., Citigroup Global Markets Inc., HSBC Securities (USA) Inc. and Standard Chartered Bank as initial purchasers on the Tier 1 offering by Banco do Brasil S.A., acting through its Grand Cayman branch, of its 9.25% perpetual non-cumulative junior subordinated securities in an aggregate principal amount of $1 billion.

In one of the most significant cross-border financings involving Brazil’s offshore energy sector this  year, Milbank, Tweed, Hadley & McCloy LLP has represented a consortium of major international lenders providing a US$692 million debt facility for the purchase of the Black Diamond I deepwater drillship by Schahin Group.  The Brazilian energy and construction conglomerate is purchasing the drillship – to be built by Korea’s Samsung Heavy Industries – and will then charter it to Brazil’s Petrobras (Petróleo Brasileiro SA).  Schahin Group has also entered into an operating agreement with Petrobras.  Milbank advised joint lead arrangers The Export-Import Bank of Korea (Kexim), Mizuho Corporate Bank, WestLB AG and Standard Chartered Bank – along with a group of five other lenders from Europe and Asia.

Global law firm White & Case LLP represented Credit Suisse Securities (USA) LLC and Santander Investment Securities Inc., as initial purchasers and joint bookrunners, in connection with the offer and sale of US$1.75 billion 5.750% senior notes due 2021 by Centrais Elétricas Brasileiras SA – Eletrobras, the Brazilian government-controlled electricity generation, transmission and distribution holding company and the largest electricity generation and transmission company in Brazil. The notes were offered to qualified institutional buyers (as defined in Rule 144A under the US Securities Act of 1933, as amended) in the United States and institutional and other investors outside Brazil and the United States in accordance with Regulation S under the Securities Act.