Hidrovias do Brasil Completes $500 Million Bond and Concurrent Liability Management

São Paulo, Brazil – Paul Hastings LLP, a leading global law firm, represented the underwriters and dealer managers in connection with Hidrovias do Brasil’s $500 million bond offering and concurrent liability management exercise.The firm represented Itau BBA and JP Morgan as global coordinators and joint bookrunners, and BofA Securities, Morgan Stanley, and Santander as joint bookrunners for the 10-year guaranteed bond issued at 4.95% by a finance subsidiary of Hidrovias do Brasil S.A., a Brazilian waterway logistics company.

Hidrovias used the proceeds of the bond offering to fund the concurrent tender offer and consent solicitation for its 5.95% notes due 2025, and for general corporate purposes. The bond offering closed on February 8, 2021, and the liability management transactions settled on February 19, 2021.

Partner David Flechner led the Paul Hastings team, which also included associates Carlos Ruiz, Diana Balassiano, and Andro Atlaga.

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