2025年3月28日
Tauil & Chequer Advogados and Mayer Brown advised NDB bank on an unprecedented financing in Brazil of USD 200 million
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Tauil & Chequer Advogados in association with Mayer Brown, in São Paulo, and Mayer Brown International LLP, in London, advised New Development Bank (NDB) on a landmark loan agreement with Companhia Paulista de Força e Luz (CPFL), valued at RMB 1,425,000,000.00 (approximately USD 200 million).
This transaction marks NDB’s first non-sovereign loan in Brazil’s electricity sector and CPFL’s first RMB-denominated transaction, diversifying its funding sources while reinforcing NDB’s commitment to expanding local currency operations. Additionally, CPFL has become the first Chinese-funded company in Brazil to secure credit support from the New Development Bank.
NDB is a multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS) to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries. Egypt, Bangladesh, and the United Arab Emirates recently joined the bank. To date, NDB has approved financing totaling USD 39.0 billion across 120 projects, the majority of which are sovereign loans.
The loan proceeds will support the expansion and modernization of CPFL’s power distribution infrastructure, enhancing efficiency and extending electricity access to new households—furthering the goal of universal electricity access in Brazil. Such project is set to drive economic and social development by enabling new grid connections, with an estimated impact of bringing electricity to over 370,000 future homes and businesses across São Paulo in the coming years.
Additionally, by reducing technical losses in the electricity distribution network, the project will enhance energy efficiency and generate economic savings for end-users. In doing so, it will make a significant contribution to the United Nations Sustainable Development Goal (SDG) 7—ensuring access to affordable, reliable, sustainable, and modern energy for all.
From Mayer Brown in London, the legal advisors were partner Ashley McDermott and associate James England, from the Banking and Finance practice. And from our São Paulo office, the transaction was led by partner Eduardo Alves Lima with the participation of associate Beatriz Lavigne, both from the Banking and Finance practice.
This transaction marks NDB’s first non-sovereign loan in Brazil’s electricity sector and CPFL’s first RMB-denominated transaction, diversifying its funding sources while reinforcing NDB’s commitment to expanding local currency operations. Additionally, CPFL has become the first Chinese-funded company in Brazil to secure credit support from the New Development Bank.
NDB is a multilateral development bank established by Brazil, Russia, India, China, and South Africa (BRICS) to mobilize resources for infrastructure and sustainable development projects in emerging markets and developing countries. Egypt, Bangladesh, and the United Arab Emirates recently joined the bank. To date, NDB has approved financing totaling USD 39.0 billion across 120 projects, the majority of which are sovereign loans.
The loan proceeds will support the expansion and modernization of CPFL’s power distribution infrastructure, enhancing efficiency and extending electricity access to new households—furthering the goal of universal electricity access in Brazil. Such project is set to drive economic and social development by enabling new grid connections, with an estimated impact of bringing electricity to over 370,000 future homes and businesses across São Paulo in the coming years.
Additionally, by reducing technical losses in the electricity distribution network, the project will enhance energy efficiency and generate economic savings for end-users. In doing so, it will make a significant contribution to the United Nations Sustainable Development Goal (SDG) 7—ensuring access to affordable, reliable, sustainable, and modern energy for all.
From Mayer Brown in London, the legal advisors were partner Ashley McDermott and associate James England, from the Banking and Finance practice. And from our São Paulo office, the transaction was led by partner Eduardo Alves Lima with the participation of associate Beatriz Lavigne, both from the Banking and Finance practice.
