Mayer Brown represented the US International Development Finance Corporation (DFC) in a $467.5 million loan to an affiliate of StoneCo Ltd. (Stone), a leading provider in Brazil of payment processing services for small and medium-sized businesses.
The financing was a complex transaction that provides for the financing of up to $14 billion of credit card receivables generated by micro, small and medium-sized business enterprises in Brazil and that involves bankruptcy remote special purpose vehicles in both Brazil and Luxembourg. Stone will direct much of the proceeds towards acquiring receivables relating to women majority-owned or majority-led businesses, thereby affording these businesses a stable source of working capital.
The team included partner Barbara Goodstein, counsel Pamela Sackmann and associates Delfina Nicholson, Ingrid Pistili and Xiao Xiao in the firm’s Chicago, New York and São Paulo offices.
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