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Who Represents Who

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Satisfied clients of Cescon, Barrieu, Flesch & Barreto Advogados‚Äô capital markets practice reserve particular praise for its ‚Äėextremely commercial approach‚Äô and ‚Äėgreat business vision‚Äô. In addition to its business sense, the group‚Äôs ‚Äėstrong availability‚Äô and ‚Äėability to focus on solutions rather than getting stuck on challenges‚Äô are also held up as significant plus points. A strong performer in both debt and equity deals, the firm enjoys close links with local and multinational banks and corporate issuers. Among its debt highlights, the team advised¬†BB Securities and BNP Paribas on Rio Oil Finance Trust‚Äôs $600m notes offering. On the equity front, it advised the underwriters on¬†Hapvida Participa√ß√Ķes e Investimentos‚Äô high-profile IPO and secondary offering, totalling¬†R$3.4bn. Group co-heads¬†Alexandre Gossn Barreto and¬†Joaquim Jos√© Aceturi de Oliveira¬†are jointly highlighted as being ‚Äėadept at leading deals‚Äô, due to their ability to remain ‚Äėcalm and collected at all times, while focusing on priority issues‚Äô. Other names to note include ‚Äėsavvy deal-maker‚Äô Maur√≠cio Teixeira dos Santos¬†and ‚Äėstand-out associate‚Äô J√ļlia Lobo, who is an ‚Äėextremely sharp and tireless advocate‚Äô. Igor Rego¬†was recently promoted to partner, while¬†Daniel Fac√≥¬†left to join Trench Rossi Watanabe.

Lefosse Advogados¬†brings to bear an enviably diverse record in capital markets, with its extensive experience spanning debt and equity offerings, for both underwriters and issuers. High-profile group head¬†Carlos Mello¬†remains one of the most sought-after specialists in this space, particularly on the equity side, where he has been involved in over 127 IPOs and follow-on offerings to date. Notably, during 2018, the firm had a role in four out of the eight equity offerings that came to market, which included advising¬†Notre Dame Interm√©dica Participa√ß√Ķes, and its controlling shareholder Alkes II ‚Äď Fundo de Investimento em Participa√ß√Ķes Multiestrat√©gia, on its primary and secondary public offering, worth a combined R$2.4bn; Mello and Luiz Octavio Lopes¬†led that work.¬†Rodrigo Junqueira¬†is also a key contact and acted as Brazilian special counsel to the underwriters on Arco Platform‚Äôs $194.4m IPO on the¬†Nasdaq Global Select Market. On the debt side,¬†Ricardo Prado¬†paired up with Mello to advise¬†JBS on the local aspects of a $500m notes offering by its subsidiary, JBS Investments II.¬†Mauricio Paschoal¬†is also recommended.

‚ÄėFast, pro-business and solution-oriented‚Äô, Mattos Filho, Veiga Filho, Marrey Jr. e Quiroga Advogados¬†secures rave reviews for its ‚Äėvery fine-tuned team‚Äô. The practice takes in all the key pillars of capital markets matters, with deep experience in debt and equity deals, investment funds and securities regulation.¬†Bruno Mastriani Sim√Ķes Tuca, who is¬†‚Äėvery knowledgeable in debt transactions‚Äô, had a banner year which included advising Petrobras Distribuidora on its R$961.7m public offering of certificates of agribusiness receivables.¬†Marina Anselmo Schneider¬†is held up by some as ‚Äėa benchmark for debt capital markets advice‚Äô and, together with Tuca, advised the underwriters on the first issuance of senior quotas of FIDC Contour Global. On the equity side,¬†Jean Marcel Arakawa, together with ‚Äėvery technical and knowledgeable‚Äô¬†up-and-coming partner¬†Vanessa Fiusa, advised Arco Platform on its headline IPO. Other senior names include¬†Jos√© Eduardo Carneiro Queiroz¬†and Renato Schermman Ximenes de Melo.

‚ÄėEfficient, available and business-oriented‚Äô,¬†Pinheiro Guimar√£es ‚Äď Advogados¬†is a ‚Äėgo-to firm for complex structured capital markets transactions‚Äô, according to sources. The ‚Äėdeep and talented‚Äô group is noted for its broad expertise, which takes in debt, equity, derivatives, investment funds, securitisations and structured finance, and ‚Äėattorneys at all seniority levels really understand the products and the industry‚Äô. In a major highlight, the firm advised Credit Suisse and J.P. Morgan, as underwriters, on Enel Brasil Investimentos Sudeste‚Äôs R$5.3bn offering of secured commercial papers. It also acted for Banco Bradesco BBI, as underwriter, on Enel Brasil‚Äôs R$4bn issuance of unsecured commercial papers.¬†Plinio Pinheiro Guimar√£es Neto¬†and¬†Francisco Jos√© Pinheiro Guimar√£es, who co-lead the department from Rio de Janiero and Sao Paulo respectively, are highlighted together as ‚Äėvery knowledgeable, dedicated and experienced‚Äô. The group also includes¬†Ivie Moura Alves¬†(‚Äėvery¬†experienced with remarkable expertise in capital markets‚Äô), Paula Beatriz Carneiro Pess√īa¬†(‚Äėone of the most complete lawyers when it comes to derivatives, structured products and investment funds‚Äô) and Bruno Lardosa¬†(‚Äėan outstanding talent, especially in securitisations and asset-backed products‚Äô).

Pinheiro Neto Advogados' group, led by high-profile corporate finance specialist¬†Henrique Lang, is equally well versed in debt and equity offerings - it also has strong expertise in structured finance, funds and securities regulation. Among its issuer-side highlights,¬†Fernando Zorzo¬†and ‚Äėup-and-coming‚Äô partner¬†Guilherme Sampaio Monteiro¬†paired up to assist PagSeguro Digital with its $1.1bn IPO and $1.5bn secondary offering. On the debt front,¬†Jose Carlos Junqueira Sampaio Meirelles¬†and counsel Marcos Proenca¬†advised Nova Transportadora do Sudeste on its R$5.2bn offering of debentures. Among its highlights for underwriters,¬†debt capital markets lead¬†Ricardo Sim√Ķes Russo¬†advised Banco ABC Brasil on a R$340m offering of debentures by Empresa de Energia S√£o Manoel. In addition,¬†Tiago Themudo Lessa¬†advised both the issuer and the underwriters on Vert Companhia Securitizadora‚Äôs public offering of agribusiness receivables certificates, which was sponsored by Syngenta Prote√ß√£o de Cultivos. The group also benefits from the senior expertise of banking specialist¬†Jos√© Luiz Homem de Mello.

BMA - Barbosa, M√ľssnich, Arag√£o‚Äôs market-leading corporate practice translates into a strong track record in the equity capital markets. The firm also fields a robust debt practice which routinely advises on debt offerings, structured finance transactions, derivatives and debt restructurings, among other matters. Among its highlights, department head¬†Camila Goldberg advised Concession√°ria do Aeroporto Internacional de Florian√≥polis on its R$300m offering of non-convertible debentures to support the construction of a new terminal at Florian√≥polis International Airport. Talented younger partner Rodolfo Constantino de Tella¬†had a banner year, which included teaming up with Luiz Antonio de Sampaio Campos¬†and Anna Carolina de Oliveira Malta¬†to advise the issuer and Banco ABC Brasil on Oi‚Äôs R$4.1bn offering of debentures as part of its¬†judicial reorganisation plan.¬†Paulo Arag√£o¬†is also recommended.

The ‚Äėvery strong and dedicated team‚Äô at¬†Demarest Advogados¬†is valued for its ‚Äėdeep business understanding‚Äô and ability to provide ‚Äėtailor-made solutions adapted to the client‚Äôs needs‚Äô. The practice has experience across a broad mix of capital markets matters but is best known for its strength in debt offerings and structured-finance transactions. Group head¬†Thiago Giantomassi, who ‚Äėprovides solid results‚Äô, recently led the firm‚Äôs advice to the banks on CIBRASEC ‚Äď Companhia Brasileira de Securitiza√ß√£o‚Äôs R$961.7m issuance of agribusiness receivables certificates. Over the past year, the firm also advised on several issuances of agribusiness credit rights certificates - for both banks and issuers. Impressive senior associate Denise Okimura¬†relocated to the firm‚Äôs New York office.

‚ÄėAmong the most capable and experienced teams in Brazil‚Äô, Machado Meyer Sendacz e Opice Advogados‚Äô group distinguishes itself through its ‚Äėstrong expertise,¬†dedication and commitment to deadlines‚Äô, according to sources. The group, which handles an array of transactional and regulatory matters for both issuers and underwriters, is particularly valued for its ‚Äėoutstanding knowledge on the client‚Äôs company and the market generally‚Äô. Among the names to note,¬†Eliana Ambr√≥sio Chimenti¬†is ‚Äėvery knowledgeable and client-focused‚Äô and recently advised Banco Ita√ļ BBA and Banco Santander (Brazil), as underwriters, on the local aspects of¬†Brasil PCH‚Äôs R$900m offering of debentures. On the equity front,¬†Gustavo Rugani¬†and the ‚Äėsolution-oriented‚Äô Eduardo Avila de Castro¬†advised Banco Inter on its primary and secondary offering of preferred shares. Other key contacts include the ‚Äėexceptional‚Äô Adriano Schnur Gabriel Ferreira¬†and Nei Schilling Zelmanovits.

At Stocche Forbes Advogados, ‚Äėdelivery is fast‚Äô, ‚Äėlawyers put themselves in the position of the client‚Äô and ‚Äėpartners participate in every step of transactions‚Äô. A strong performer in debt securities transactions, the group also acts on equity offerings, investment funds-related matters, structured finance deals and regulatory issues. Rio de Janeiro-based¬†Frederico Cursino de Moura¬†had a busy year on behalf of energy issuers, which included advising¬†Centrais El√©tricas do Par√° - CELPA on its R$1bn offering of debentures. On the underwriter side,¬†Marcos Ribeiro¬†advised¬†Banco Santander (Brasil), Banco Ita√ļ BBA, Banco Bradesco BBI and Banco BTG Pactual on¬†Eletropaulo Metropolitana Eletricidade de S√£o Paulo‚Äôs R$3bn debentures offering. Experienced names¬†Henrique Filizzola¬†and¬†Rana Moraz¬†are also highly regarded, while ‚Äėvery responsive and specialised‚Äô senior associate Thadeu Bretas¬†is a rising star.

TozziniFreire Advogados‚Äô capital markets practice¬†strikes a good balance between equity and debt work. In a recent equity highlight, department head Alexei Bonamin¬†paired up with Fab√≠ola Augusta Cavalcanti¬†to advise¬†Banrisul, and its subsidiary Banrisul Cart√Ķes, on the latters IPO ‚ÄĒ including the regulatory aspects. On the debt side, Bonamin assisted¬†Gaia Cred II Companhia Securitizadora de Cr√©ditos Financeiros with two offerings of debentures worth R$5m, which represented Brazil‚Äôs first public offering of social bonds. On the manager side,¬†the firm advised the initial purchasers (Morgan Stanley, UBS Securities and Banco Bradesco BBI) and the collateral agent (TMF Brasil Administra√ß√£o e Gest√£o de Ativos) on¬†Unigel Luxembourg‚Äôs $200m notes offering - Kenneth Antunes Ferreira¬†teamed up with Bonamin and Cavalcanti on that deal. Luiz Rafael de Vargas Maluf, who sits in the capital markets and banking and finance groups, recently made partner.

Veirano Advogados¬†benefits from a¬†diverse client base in the capital markets area and it regularly advises issuers, underwriters, funds and investors in both debt and equity transactions. In line with the wider firm‚Äôs prominence in the energy space, the power industry is a significant source of mandates and the group recently advised¬†Engie Brasil Energia on its R$746m offering of non-convertible debentures. Telecoms is also an active area and it advised Claro on three recent debt offerings worth a combined¬†R$2.9bn. On the underwriter side, the team acted for Banco Santander (Brasil), Banco Ita√ļ BBA and Banco J. Safra on several placement offerings by Companhia Energ√©tica do Cear√° ‚Äď COELCE, a Brazilian energy company controlled by Enel.¬†Rio de Janeiro-based Carlos Alexandre Lobo¬†and Sao Paulo-based Lior Pinsky¬†co-lead a national group that also includes¬†Daniela Anversa.

Cascione, Pulino, Boulos & Santos Advogados’ practice, which is particularly active in real estate and agribusiness-related deals, is weighted towards the debt capital markets. The firm is routinely engaged by both issuers and underwriters to advise on major public offerings and it recently advised Terra Investimentos Distribuidora de Títulos e Valores Mobiliários, as lead underwriter, on Gaia Cred II Companhia Securitizadora de Créditos Financeiros’ landmark social-bond offering. It also advised two SPVs of Naturgy Group on their issuance of photovoltaic infrastructure bonds. Fábio de Souza Aranha Cascione and Marcos Vinicius Pulino co-lead a department that also includes newly made-up partner Diego Gonçalves Coelho.

The ‚Äėresponsive, technical and transparent‚Äô group at¬†FreitasLeite Advogados¬†secures strong praise for its ‚Äėefficient project management‚Äô. The group‚Äôs commercial understanding is also a recurring theme and it impresses with its ‚Äėstrong focus on finding legal structures that fit the client's business needs‚Äô. The firm‚Äôs specialist funds expertise ensures a steady stream of work in that area and¬†Leonardo Di Cola¬†(‚Äėalways put himself in the client‚Äôs shoes to support business development‚Äô) recently advised Pravaler on its R$185m issuance of senior shares of¬†Cr√©dito Universit√°rio FIDC, among other matters.¬†Luiz Paulo Lago Dal√≥¬†and¬†Cristiano da Cruz Leite¬†are also names to note.

According to sources,¬†Lobo de Rizzo Advogados¬†maintains an ‚Äėoptimum balance between pragmatism and dynamism‚Äô, with its lawyers commended for ‚Äėpossessing a sense of urgency, while remaining calm and in control‚Äô. Among its highlights,¬†Milton Pinatti¬†and¬†Fabrizio de Oliveira Sasdelli - highlighted together as¬†‚Äėprofessional, reliable and tireless‚Äô - advised¬†Santa Vit√≥ria do Palmar Energias Renov√°veis¬†on its R$105m issuance of debentures, which was guaranteed by Inter-American Investment Corporation.¬†Caio Cossermelli¬†and¬†Paula Magalh√£es¬†are the other key contacts in a group that also counts BK Brasil Opera√ß√£o e Restaurantes,¬†Banco BTG Pactual and¬†Banco Bradesco BBI as clients.

Perlman Vidigal Godoy Advogados’ practice is dominated by debt capital markets transactions, with the firm’s robust expertise in structured finance and securitisation paying dividends. Among its highlights, key contact Rubens de Camargo Vidigal Neto assisted Braskem with the structuring of its tenth receivables investment fund, Chemical X FIDC. The firm also houses a solid regulatory offering and it recently represented Banco BTG Pactual in administrative proceedings brought by the Brazilian Securities Exchange Commission. Marcelo Perlman and associate Allan Crocci de Souza are also noted.

The capital markets and securitisation practice at¬†Tauil & Chequer Advogados in association with Mayer Brown, brings to bear strong expertise in cross-border and infrastructure-related transactions. Highly regarded department head¬†Carlos Motta¬†‚Äėhas the experience to really¬†take on board the client‚Äôs concerns‚Äô and recently advised the underwriters, led by Banco Bradesco BBI, Citigroup, Morgan Stanley, BB Investimentos and Nomura, on Banco Inter‚Äôs R$672m IPO. On the debt front, the firm advised EDP S√£o Paulo Distribui√ß√£o de Energia and EDP Esp√≠rito Santo Distribui√ß√£o de Energia on each of their offerings of infrastructure debentures, worth R$260m and R$190m respectively. Finance partner Eduardo Lima¬†is also a key contact.

Vaz, Buranello, Shingaki e Oioli Advogados’ team, which is led jointly by Erik Oioli and José Alves Ribeiro, has a focus on debt capital markets, with robust expertise in both transactional and regulatory matters. Highlights included advising Companhia Brasileira de Distribuição (as issuer), and Banco do Brasil (as bookrunner), on a R$800m offering of debentures. It also advised the bookrunners on a R$500m issuance of debentures by Companhia de Locação das Américas. Other key clients include Banco ABC Brasil, Omega Energia and Petrobras.

Campos Mello Advogados‚Äô group, which shines in debt matters, is best known for its close relationships with seasoned financial issuers and funds. In a recent example, department co-lead¬†Roberto Vianna do Rego Barros¬†advised Fundo √önico de Previd√™ncia Social do Estado do Rio de Janeiro ‚Äď Rioprevid√™ncia on a $2bn securitisation of oil royalties, together with BB Investimentos and BNP Paribas. Marcus Vinicius Bitencourt¬†and Jorge Gallo¬†also co-head the practice.

‚ÄėResponsive and business-savvy‚Äô,¬†Dias Carneiro Advogados¬†debt-focused group is recommended for its expertise in energy, agribusiness, infrastructure and mining-related offerings. Highlights included advising¬†sugar and agribusiness giant USJ Acucar e Alcool, on its R$91.8m offering of debentures.¬†Thiago Vallandro Flores¬†is a ‚Äėpleasure to work with‚Äô and heads a group that includes new arrival Anna Dutra, who was previously general counsel at Brasil Plural, and recently made-up partner Paulo Leme.

KLA Advogados‚Äô houses a ‚Äėsolid team with good expertise‚Äô, which leverages the wider firm‚Äôs impressive real estate practice to shine in property-related matters, including CRI offerings and fund issues. In a recent example of its sweet spot,¬†Ricardo Stuber¬†advised Hotelaria Accor, as guarantor, on¬†√Āpice Securitizadora‚Äôs R$20m CRI issuance.¬†Ricardo Higashitani¬†and¬†Fernanda Levy¬†are also key contacts.

Landi, Rodrigues, Nakano e Giovannetti Advogados’ capital markets practice covers a mix of funds, debt offerings, structured finance and debt restructuring-related matters, with the real estate and energy spheres standing out as key sources of work. Rogerio Padua Nakano, Ronaldo Bassitt Giovannetti and Ricardo Mahlmann de Almeida are the names to note.

Madrona Advogados routinely advises underwriters, asset managers, funds and issuers on a wide range of debt and equity transactions - it also benefits from significant experience in regulatory matters. CRI offerings are a notable strong suit and the team handles a steady stream of infrastructure-related issuances. Marcelo Cosac and Nair Veras Saldanha are the key contacts.

Capital markets is a key pillar of Monteiro, Rusu, Cameirão, Bercht e Grottoli Advogados’ practice and it is particularly well-versed in debt issuances, including debentures, commercial papers, financial notes and bonds. It also has experience in advising local and international financial institutions, portfolio managers and investors on regulatory issues. Roberto Rusu and Allan Bercht are recommended.

Elvis Camargo Silva de Brong Mattar’s team at Navarro Advogados has an active presence in debt deals; it enjoys a particularly prominent reputation for its record in real estate receivables certificates (CRIs). Highlights included advising medical centre MDX Barra Center on its R$25m CRI offering; and also advising real estate developer Terras de Mombuca Empreendimentos Imobiliários on its R$8.3m issuance CRI issuance.

‚ÄėHighly knowledgeable and dedicated‚Äô,¬†Trench Rossi Watanabe¬†stands out for its¬†‚Äėstrong senior involvement at all points of transactions‚Äô.¬†In particular,¬†Helen Naves¬†is noted for her ‚Äėprofessional, responsive and detail-oriented‚Äô approach. Naves recently advised seasoned issuer¬†Natura Cosm√©ticos on its R$1.4bn offering of debentures to finance its acquisition of The Body Shop. In a high-profile lateral hire, the team was recently boosted by the arrival of Daniel Fac√≥¬†from Cescon, Barrieu, Flesch & Barreto Advogados.

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Legal Developments worldwide

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