August 23, 2024
Tauil & Chequer Advogados and Mayer Brown advise Banco do Brasil on US$ 800 million loan
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Tauil & Chequer Advogados in association with Mayer Brown, in Brazil, and Mayer Brown, in the US, advised Banco do Brasil, acting as borrower, in a syndicated credit facility guaranteed by the Multilateral Investment Guarantee Agency (MIGA). The $800 million loan was coordinated by JPMorgan Chase and had JP Morgan, Standard Chartered Bank, HSBC and Credit Agricole as lenders.
MIGA, a member of the World Bank Group, provides political risk insurance and credit enhancement guarantees, which help protect investments against non-commercial risks and can help improve access to capital.
In this transaction, MIGA’s guarantee plays a critical role in enhancing the creditworthiness of Banco do Brasil, thereby facilitating its ability to access larger amounts of funding under more favorable terms than might otherwise be available. The syndicated credit facility aims to bolster Banco do Brasil’s capacity to extend further lending, particularly in sectors that are crucial for the economic development of Brazil.
The presence of the MIGA guarantee is particularly significant as it not only mitigates potential risks associated with the syndication but also reflects confidence in the bank’s stability and the economic environment of Brazil.
The Tauil & Chequer Advogados team was led by partners Eduardo Lima and Priscilla Santos, and included associate Theodoro Scott. The Mayer Brown New York team was led by partner Juan Pablo Moreno and included associate Luis Schrader. All are from the Banking & Finance practice.
MIGA, a member of the World Bank Group, provides political risk insurance and credit enhancement guarantees, which help protect investments against non-commercial risks and can help improve access to capital.
In this transaction, MIGA’s guarantee plays a critical role in enhancing the creditworthiness of Banco do Brasil, thereby facilitating its ability to access larger amounts of funding under more favorable terms than might otherwise be available. The syndicated credit facility aims to bolster Banco do Brasil’s capacity to extend further lending, particularly in sectors that are crucial for the economic development of Brazil.
The presence of the MIGA guarantee is particularly significant as it not only mitigates potential risks associated with the syndication but also reflects confidence in the bank’s stability and the economic environment of Brazil.
The Tauil & Chequer Advogados team was led by partners Eduardo Lima and Priscilla Santos, and included associate Theodoro Scott. The Mayer Brown New York team was led by partner Juan Pablo Moreno and included associate Luis Schrader. All are from the Banking & Finance practice.
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